US' textiles & apparel imports drop 19.98% to $25.8 bn in Jan-Mar 2023

In January-March 2023, the bulk of US textile imports consisted of apparel, amounting to $19.472 billion, while non-apparel imports accounted for $6.400 billion, according to the latest Major Shippers Report released by the US department of commerce. Both segments experienced a decline in inbound shipments. 

Apparel imports dropped by 19.73 per cent compared to the $24.259 billion traded in January-March 2022, while non-apparel imports fell by 20.71 per cent from $6.400 billion in the same period of the previous year. 

Among the top ten apparel suppliers to the US, the import from any country did not register rise. The imports from China and Cambodia declined by 34.89 per cent and 32.57 per cent, respectively. The import from Vietnam dropped 24.25 per cent, Pakistan 26.97 per cent, Honduras 15.84 per cent, Bangladesh 13.34 per cent and India 11 per cent. 

Among the top ten suppliers in the non-apparel category, imports from Mexico experienced a year-on-year growth of 10.20 per cent. Imports from no other country rose in this period. Imports from Vietnam, on the other hand, declined by 12.58 per cent. Inbound shipments from other countries, such as China, Turkey, and Canada, also decreased. Specifically, imports from China decreased by 33.28 per cent and from India by 21.73 per cent. 

During the period under review, US textile and apparel imports totalled $25.874 billion. Man-made fibre products accounted for $13.258 billion, while cotton products were valued at $10.876 billion. Wool products made up $780.065 million, and products from silk and vegetable fibres were worth $956.980 million. 

In 2022, US imports of textiles and apparel continued to rise, reaching $132.201 billion, up from $113.938 billion in 2021. This increase followed a sharp decline in 2020 when the country's inbound shipments dropped to $89.596 billion, compared to imports of $111.033 billion in 2019. 

ALCHEMPro News Desk (KUL)