US' textiles & apparel imports drop 21.8% to $81.1 bn in Jan-Sept 2023

From January to September 2023, apparel imports, constituting the bulk of US textile imports, fell by 22.81 per cent to $60.822 billion from $78.797 billion in the same period in 2022. Non-apparel imports saw an 18.82 per cent decline to $20.316 billion, down from $25.028 billion previously, as reported by the US Department of Commerce's Major Shippers Report. Both categories experienced a reduction in inbound shipments. 

Notably, among the US’ top ten apparel suppliers, none reported an increase in exports. The sharpest declines were from China and Cambodia, falling by 28.13 per cent and 26.09 per cent, respectively. Other significant reductions included imports from Pakistan by 29.06 per cent, Vietnam by 24.13 per cent, Indonesia by 25.61 per cent, Honduras by 27.56 per cent, Bangladesh by 23.33 per cent, and India by 21.91 per cent. 

In the non-apparel sector, only Mexican imports to the US showed a year-on-year increase of 4.88 per cent. China's exports to the US decreased by 24.02 per cent, along with declines from other countries including Vietnam, Turkiye, Pakistan, and Canada. South Korean imports dropped by 22.34 per cent, with India's falling by 21.13 per cent. 

During the period under review, the total US imports of textiles and apparel amounted to $81.139 billion. Man-made fibres dominated with $42.348 billion, cotton products followed at $33.521 billion, wool products at $3.111 billion, and silk and vegetable fibre products at $2.158 billion. 

ALCHEMPro News Desk (KUL)