In January-June 2023, the bulk of US textile imports consisted of apparel, amounting to $38.047 billion, down 23.17 per cent compared to $49.524 billion in January-June 2022. Non-apparel imports accounted for $13.209 billion, which fell by 21.26 per cent from $16.776 billion in the same period of the previous year, according to the latest Major Shippers Report released by the US department of commerce. Both segments experienced a decline in inbound shipments.
Among the top ten apparel suppliers to the US, the imports from none of the countries registered a rise. The imports from China and Cambodia declined by 29.16 per cent and 32.27 per cent, respectively. The imports from Pakistan dropped 31.37 per cent, Vietnam 26.73 per cent, Indonesia 29.17 per cent, Honduras 20.11 per cent, Bangladesh 23.55 per cent and India 21.50 per cent.
Among the top ten suppliers in the non-apparel category, only imports from Mexico experienced a year-on-year growth, rising by 7.44 per cent. Imports from China, on the other hand, declined by 27 per cent. Inbound shipments from other countries, such as Vietnam, Turkiye, Pakistan, and Canada also decreased. The imports from South Korea declined by 23.64 per cent and from India by 26.48 per cent.
During the period under review, US textile and apparel imports totalled $51.256 billion. Man-made fibre products accounted for $26.515 billion, while cotton products were valued at $21.438 billion. Wool products made up $1,629.479 million, and products from silk and vegetable fibres were worth $1,673.196 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)
Receive daily prices and market insights straight to your inbox. Subscribe to AlchemPro Weekly!
marketing@alchempro.com
