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Mexico and Canada consume bulk of US textile exports
17
Jun '14
Two countries—Mexico and Canada—consume bulk of the textile and apparel exports made by the US, according to data from the U.S. Department of Commerce.
 
From January to April 2014, the US exported textiles and apparel worth US$ 7.857 billion, growing at 2.64 percent year-on-year, the latest Major Shippers Report, released by the U.S. Department of Commerce, showed.
 
Mexico, the US’ southern neighbor, accounted for $1.992 billion or 25.35 percent share in all US textile and garment exports during the first four months of the current year, whereas, Canada, the northern neighbor, contributed $1.692 billion or 21.53 percent share, the data showed.
 
Honduras and China were the other two countries who enjoyed a share of more than 5 percent in overall textile and clothing exports from the US during the four-month period.
 
Among the top ten destinations for the US textile and apparel exports, the highest increase of 20.78 percent year-on-year was registered in exports to Belgium, followed by Mexico, Honduras and El Salvador with growth of 7.5 percent, 7.47 percent and 6.11 percent, respectively.
 
However, the US textile and clothing exports to China and Japan fell by 14.1 percent year-on-year and 9.46 percent to $426.331 million and $224.847 million, respectively, during the period under review.
 
Segment-wise, garment exports from the US increased by 2.23 percent year-on-year to $1.88 billion in the first four months of 2014, while exports of textile mill products rose by 2.77 percent to $5.976 billion.
 
Among textile mill products, yarn exports grew by 1.45 percent year-on-year to $1.718 billion, whereas fabric exports inched up by 3.58 percent to $3.039 billion and exports of made-up articles climbed 2.64 percent to $1.218 billion.
 
In recent years, the US textile and clothing exports have been growing at a steady pace. They have grown from $19.752 billion in 2010 to $22.403 billion in 2011, $22.676 billion in 2012, and $23.66 billion in 2013.
 

Fibre2fashion News Desk - India


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