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Apparel & textile imports surge significantly

22
Feb '08
The US has earned a reputation for being the largest importer of apparel and this was proved once again by the trade results of 2007.

The country imported apparel goods worth US $73.9 billion, most of which came from Asian countries.

While the total imports of apparel and textile made by the US stood at $96.4 billion in 2007, it marked an increase compared to the $93.3 billion of the year before.

China's market share in the garment sector saw a rise to 30.77 percent while in totality, the figures reached $22.74 billion.

In terms of percentage, both Indonesia and Vietnam had higher market share in the apparel sector accounting for 5.4 and 5.9 percent respectively, against the 4.3 percent of India.

Apparel exports from Pakistan also saw a rise to $1.5 billion in 2007 from $1.4 billion of 2006. Even Sri Lanka, made garment exports worth $1.6 billion. At the same time, Bangladesh saw its apparel exports rise to touch $3.1 billion in 2007, while its market share has gone up to 4.2 percent.

On the other hand, Turkey saw a drop to $559.2 million in 2007 against $726.1 million of 2006.


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