During the same period, apparel imports increased by 1.48 per cent to 5,904.558 million SME, up from 5,818.424 million SME in January-March 2023. Textile (non-apparel) imports stood at 15,869.756 million SME in January-March 2024, marking a 14.81 per cent increase from 13,822.097 million SME in the same months of the previous year, according to the OTEXA report.
The import volume of cotton products increased by 6.58 per cent to 4,016.403 million SME during the period under review, compared with 3,768.323 million SME in the same period of the previous year. The import of man-made fibre products was 17,152.902 million SME in January-March 2024, up from 15,384.206 million SME in January-March 2023.
The exports of textiles and apparel made from all types of fibres from the US fell by 4.42 per cent to 528.248 million kg in the period under review, compared with 552.679 million kg in January-March 2023. Apparel exports decreased by 11.14 per cent to 156.780 million kg. Yarn exports stood at 222.473 million kg during the period, a 1.63 per cent decline from January-March 2023. Meanwhile, fabric exports decreased by 4.46 per cent to 104.694 million kg in January-March 2024, as per OTEXA.
US exports of textile products continued to show a declining trend in the first three 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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