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US textile & apparel imports reflect positive trend
26 Dec '11
2 min read
After experiencing a fall in 2009, US's apparel and textile imports have shown a positive trend for the past two years, and have grown at a year-on-year rate of slightly over 15 percent to US$ 97.2 billion during the initial 10 months of the current year.
China, which has evenly maintained its exports of textile and apparel items to the US over the years, still contributes about 40 percent to the US's overall textile and apparel imports. The country exported US$ 40 billion worth of textiles and apparels to the US during January to October 2011.
Meanwhile, Vietnam has greatly excelled as an apparel powerhouse and now ranks as the second biggest supplier of apparels to the US. Since it joined the World Trade Organization in 2007, the Southeast Asian country has continuously grown to make apparel its biggest export item. Registering a year-on-year rise of around 18 percent, Vietnam exported US$ 7.2 billion worth of apparels and textiles to the US during the review period.
Likewise, India has also been increasing its apparel exports and it is now the third largest exporter of apparel and textiles to the US in terms of dollar value. The country exported US$ 5.9 billion worth of apparels to the US during the initial 10 months of the current year, a rise of 12.4 percent year-on-year.
Mexico, Pakistan, Indonesia, Honduras and Bangladesh are some of the other leading exporters of apparels to the US market.
While the US textile and apparel imports started moving positively after experiencing a 13.5 percent fall during 2009, its exports also started growing on a weak US dollar which pushed sales.
Meanwhile, the US textile and apparel producers are trying to go global and are exploring markets like Europe, Middle East and Asia, so as to counterbalance any setbacks in the US economy.
Textile and apparel exports from the US grew by about 15 percent to US$ 18.9 billion during January to October this year, as against exports worth US$ 16.45 billion recorded during the corresponding period last year.
China, which has evenly maintained its exports of textile and apparel items to the US over the years, still contributes about 40 percent to the US's overall textile and apparel imports. The country exported US$ 40 billion worth of textiles and apparels to the US during January to October 2011.
Meanwhile, Vietnam has greatly excelled as an apparel powerhouse and now ranks as the second biggest supplier of apparels to the US. Since it joined the World Trade Organization in 2007, the Southeast Asian country has continuously grown to make apparel its biggest export item. Registering a year-on-year rise of around 18 percent, Vietnam exported US$ 7.2 billion worth of apparels and textiles to the US during the review period.
Likewise, India has also been increasing its apparel exports and it is now the third largest exporter of apparel and textiles to the US in terms of dollar value. The country exported US$ 5.9 billion worth of apparels to the US during the initial 10 months of the current year, a rise of 12.4 percent year-on-year.
Mexico, Pakistan, Indonesia, Honduras and Bangladesh are some of the other leading exporters of apparels to the US market.
While the US textile and apparel imports started moving positively after experiencing a 13.5 percent fall during 2009, its exports also started growing on a weak US dollar which pushed sales.
Meanwhile, the US textile and apparel producers are trying to go global and are exploring markets like Europe, Middle East and Asia, so as to counterbalance any setbacks in the US economy.
Textile and apparel exports from the US grew by about 15 percent to US$ 18.9 billion during January to October this year, as against exports worth US$ 16.45 billion recorded during the corresponding period last year.
Fibre2fashion News Desk - India
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