U.S. Cotton Textile Trade Expands in First-Quarter 2010
U.S. cotton textile trade rose during the first quarter of 2010 as the global economy rebounded. During January-March 2010, cotton product imports reached 2.1 billion (raw-fiber equivalent) pounds, up nearly 11 percent from the corresponding period in 2009. Likewise, cotton textile and apparel exports expanded, rising about 15 percent from a year ago to 418 million pounds. As a result, the cotton product trade deficit for first-quarter 2010 was 1.7 billion pounds, or 10 percent above the comparable period in 2009. Cotton products continue to account for the largest share of the total textile fiber product deficit.
The rise in U.S. product imports thus far in 2010 has benefited most of the leading suppliers, particularly China, the single largest source for U.S. cotton products. For January-March 2010, the top five suppliers combined for nearly 63 percent of the cotton product total imported by the United States. This share is slightly above the 2009 calendar year share but modestly above the 59-percent share recorded during the first quarter of 2009 (fig. 2). The most recent quarterly data indicate that import volume from Pakistan, India, and Mexico increased but accounted for a similar share as a year ago. Meanwhile, China's 31-percent share in first-quarter 2010 was well above a year ago and more than offset a slight decline from Bangladesh.
U.S. cotton product exports are even more concentrated than imports. The top five destinations for U.S. cotton products exceeded 85 percent during January-March 2010, slightly below first-quarter 2009 but similar to the last calendar year. Honduras and Mexico—the top two destinations—led the increase thus far in 2010. These two countries received more than 60 percent of all U.S. cotton textile exports during first-quarter 2010, compared with about 55 percent in all of 2009.
U.S. Department of Agriculture (USDA)
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