US' textiles & apparel imports drop 20.5% to $104.9 bn in 2023

In 2023, apparel imports, which constitute the bulk of US textile imports, fell by 22.05 per cent to $77.840 billion from $99.855 billion in the same period in 2022. Non-apparel imports saw a 15.73 per cent decline to $27.119 billion, down from $32.179 billion previously, as reported by the US Department of Commerce's Major Shippers Report. Both categories experienced reductions in inbound shipments.

Notably, among the US' top ten apparel suppliers, none reported an increase in exports. The sharp declines were from China and Cambodia, falling by 24.98 per cent and 23.58 per cent, respectively. Other significant reductions included imports from Pakistan (26.60 per cent), Vietnam (22.92 per cent), Indonesia (25.19 per cent), Honduras (23.51 per cent), Bangladesh (25.07 per cent), Nicaragua (31.24 per cent), and India (21.12 per cent).

In the non-apparel sector, only Mexican imports to the US showed a year-on-year increase of 2 per cent. China's exports to the US decreased by 18.73 per cent, along with declines from other countries including Vietnam, Turkiye, Pakistan, and Canada. South Korean imports dropped by 22.37 per cent, with Indian exports falling by 15.71 per cent.

During the period under review, the total US imports of textiles and apparel amounted to $104.959 billion. Man-made fibre products dominated with $54.859 billion, followed by cotton products at $43.344 billion, wool products at $4.098 billion, and silk and vegetable fibre products at $2.656 billion.

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 with imports of $111.033 billion in 2019.

ALCHEMPro News Desk (KUL)