US' textiles & apparel imports drop 22.88% to $61.2 bn in Jan-Jul 2023

In January-July 2023, the bulk of US textile imports consisted of apparel, amounting to $45.746 billion, down 22.28 per cent compared to $58.857 billion in January-July 2022. Non-apparel imports accounted for $15.542 billion, which fell by 20.69 per cent from $19.596 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 28.75 per cent and 30.10 per cent, respectively. The imports from Pakistan dropped 30.61 per cent, Vietnam 24.76 per cent, Indonesia 27.26 per cent, Honduras 21.49 per cent, Bangladesh 19.82 per cent and India 21.13 per cent. 

Among the top ten suppliers in the non-apparel category, only imports from Mexico experienced a year-on-year growth, rising by 7.15 per cent. Imports from China, on the other hand, declined by 26.67 per cent. Inbound shipments from other countries, such as Vietnam, Turkiye, Pakistan, and Canada also decreased. The imports from South Korea declined by 22.43 per cent and from India by 25.67 per cent. 

During the period under review, US textile and apparel imports totalled $61.289 billion. Man-made fibre products accounted for $31.732 billion, while cotton products were valued at $25.610 billion. Wool products made up $2,105.949 million, and products from silk and vegetable fibres were worth $1,839.816 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)