US' textiles & apparel imports down 5.7% to $9.6 bn in January 2023

Within textiles, apparel constituted the bulk of the imports by the US in January 2023, amounting to $7.266 billion, while non-apparel imports accounted for $2.332 billion, according to the latest Major Shippers Report released by the US department of commerce. Both segments saw a decline in inbound shipment. Apparel imports slipped by 3.44 per cent compared to the trade of $7.525 billion in January 2022, while non-apparel imports declined by 12.12 per cent from $2.653 billion in the corresponding period of the previous year. 

Among the top ten apparel suppliers to the US, imports from Nicaragua and Bangladesh gained 27.60 per cent and 15.43 per cent year-on-year, respectively. Imports from India and Indonesia also grew by 9.77 per cent and 4.73 per cent, respectively. However, imports from the other six nations among the top ten, including China and Cambodia, declined by 24.61 per cent and 12.92 per cent. 

In the non-apparel category, among the top ten suppliers, imports from Vietnam gained 19.43 per cent year-on-year. Imports from Mexico and Cambodia saw positive growth of 12.89 per cent and 3.63 per cent, respectively. However, imports from the other seven countries, including China, India, Turkiye, and Canada, declined. The imports from China dipped by 26.58 per cent. 

Of the total US textile and apparel imports of $9.599 billion during the period under review, man-made fibre products accounted for $4.884 billion, while cotton products were worth $4.121 billion, followed by $279.972 million worth of wool products, and $314.184 billion worth of products from silk and vegetable fibres. 

In 2022, the US imports of textile and apparel further increased to $132.201 billion, up from $113.938 billion in 2021. This was a bounce back after a sharp decline in 2020 when the country's inbound shipment decreased to $89.596 billion compared to imports of $111.033 billion in 2019. 

ALCHEMPro News Desk (KUL)