During the same period, apparel imports increased by 0.56 per cent to 9,630.777 million SME, up from 9,577.073 million SME in January to May 2023. Textile (non-apparel) imports stood at 28,756.667 million SME in January to May 2024, marking a 7.78 per cent increase from 26,681.147 million SME in the same months of the previous year, according to the OTEXA report.
The import volume of cotton products increased by 6.61 per cent to 6,715.812 million SME during the period under review, compared with 6,299.420 million SME in the same period of the previous year. The import of man-made fibre (MMF) products was 30,668.510 million SME from January to May 2024, up from 29,116.623 million SME in January to May 2023.
The exports of textiles and apparel made from all types of fibres from the US fell by 3.35 per cent to 891.930 million kg in the period under review, compared with 922.883 million kg in January to May 2023. Apparel exports decreased by 8.06 per cent to 266.436 million kg. Yarn exports stood at 367.853 million kg during the period, a 0.98 per cent decline from January to May 2023. Meanwhile, fabric exports increased by 0.13 per cent to 302.230 million kg in January to May 2024.
US’ exports of textile products continued to show a volatile declining trend in the first five 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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