US' textiles & apparel exports ease 4.5% to $13.8 bn in Jan-Jul 2023

Among the top ten markets, textiles and apparel shipments to the Netherlands increased by 15.18 per cent to $281.913 million in the first seven months of 2023. Exports also increased to the United Kingdom (10.19 per cent). However, shipments to the Dominican Republic, Canada, China, Guatemala, Nicaragua, Mexico, Honduras, and Japan experienced a decline of up to 34.43 per cent. The US supplied $4,017.798 million worth of textiles and apparel to Mexico during this period, followed by $3,175.697 million to Canada and $783.644 million to Honduras. 

Category-wise, apparel exports increased by 1.86 per cent year-on-year to $4,198.792 million, while fabric exports decreased by 4.82 per cent to $4,919.352 million in January-July of this year. The exports of yarn, made-up, and miscellaneous articles decreased by 8.81 per cent to $2,475.052 million and 9.78 per cent to $2,238.975 million, respectively, during the same period. 

The US textile and apparel exports increased by 9.77 per cent to $24.866 billion in 2022 compared to $22.652 billion in 2021. In recent years, US textile and clothing exports have remained in the range of $22 to 25 billion per annum. In 2014, they stood at $24.418 billion, while the figure was $23.622 billion in 2015, $22.124 billion in 2016, $22.671 billion in 2017, $23.467 billion in 2018, and $22.905 billion in 2019. The value dropped to $19.330 billion in 2020 due to the COVID-19 pandemic. 

ALCHEMPro News Desk (KUL)