During the same period, apparel imports increased by 1.72 per cent to 4,033.236 million SME, up from 3,964.928 million SME in January-February 2023. Textile (non-apparel) imports stood at 10,114.349 million SME in January-February 2024, marking a 17.44 per cent increase from 8,612.302 million SME in the same months of the previous year, according to the OTEXA report.
The import volume of cotton products increased by 4.41 per cent to 2,645.786 million SME during the period under review, compared with 2,534.136 million SME in the same period of the previous year. The import of man-made fibre products was 11,095.196 million SME in January-February 2024, up from 9,720.313 million SME in January-February 2023.
The exports of textiles and apparel made from all types of fibres from the US fell by 3.04 per cent to 342.474 million kg in the period under review, compared with 353.216 million kg in January-February 2023. Apparel exports decreased by 6.40 per cent to 100.513 million kg. Yarn exports stood at 142.826 million kg during the period, a 1.24 per cent decline from January-February 2023. Meanwhile, fabric exports decreased by 0.03 per cent to 69.438 million kg in January-February 2024, as per OTEXA.
US’ exports of textile products continued to show a declining trend in the first two months of 2024 as foreign buyers remained cautious about textile imports.
In 2023, the US noted a 12.28 per cent decline in the volume of imports for textiles and apparel made from all types of fibres. These imports amounted to 92,783.4 million SME.
ALCHEMPro News Desk (KUL)
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