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Textile trade deficit drops in Q1
14 Jun '08
2 min read
March textile imports, at 1.3 billion (raw-fiber equivalent) pounds, dropped 8 percent from February and were 12 percent below a year earlier. Lower shipments occurred for all major fibers and all major end-uses compared with a month earlier.
Cotton imports (759 million pounds) accounted for 58 percent of the total and were 7 percent below imports in February. U.S. imports from Asia fell 10 percent to 517 million pounds—68 percent of the total. Imports from other North American countries also declined in March to 185 million pounds—24 percent of total cotton textile and apparel shipments to the United States.
Conversely, U.S. textile exports, at 335 million pounds, were up slightly (less than 1 million pounds) from a month earlier but were 10 percent below March 2007. Textile exports expanded for all major fibers, except cotton, compared with February 2008.
Shipments of apparel and home furnishings also increased from the previous month. Other North American countries were the dominant markets for the United States; Honduras and Mexico continue as leading markets, receiving 40 and 23 percent, respectively, of the region's shipments.
Overall, the textile trade deficit during January to March of 2008 declined 7 percent (236 million pounds) from 2007 to 3.3 billion pounds; the cotton deficit also declined 7 percent (134 million pounds) to 1.9 billion and accounted for 57 percent of the decrease. For 2008, cotton has accounted for 59 percent of the total deficit, the same share as in 2007.
Cotton imports (759 million pounds) accounted for 58 percent of the total and were 7 percent below imports in February. U.S. imports from Asia fell 10 percent to 517 million pounds—68 percent of the total. Imports from other North American countries also declined in March to 185 million pounds—24 percent of total cotton textile and apparel shipments to the United States.
Conversely, U.S. textile exports, at 335 million pounds, were up slightly (less than 1 million pounds) from a month earlier but were 10 percent below March 2007. Textile exports expanded for all major fibers, except cotton, compared with February 2008.
Shipments of apparel and home furnishings also increased from the previous month. Other North American countries were the dominant markets for the United States; Honduras and Mexico continue as leading markets, receiving 40 and 23 percent, respectively, of the region's shipments.
Overall, the textile trade deficit during January to March of 2008 declined 7 percent (236 million pounds) from 2007 to 3.3 billion pounds; the cotton deficit also declined 7 percent (134 million pounds) to 1.9 billion and accounted for 57 percent of the decrease. For 2008, cotton has accounted for 59 percent of the total deficit, the same share as in 2007.
Cotton Council International
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