US textiles & apparel exports up 4.05% during Jan 2023

Category-wise, apparel exports increased by 14.97 per cent year-on-year to $575.443 million, while the exports of yarn ($340.260 million) and fabric ($683.212 million) increased by 0.53 per cent and 4.06 per cent, respectively in January this year. However, made-up and miscellaneous article exports decreased by 9.09 per cent to $296.490 million. 

Among the top ten markets, the shipment of textiles and apparel increased by 130 per cent to $32.739 million in the first month of 2023. The exports increased to Netherlands (69.25 per cent), United Kingdom (48.46 per cent) and Dominican Republic (14.24 per cent). However, the shipment to Mexico, Canada, China, and Japan witnessed a decline. 

The US supplied $550.629 million worth of textiles and apparel to Mexico during the period, followed by $424.778 million to Canada and $100.851 million to Honduras. 

Exports of textiles and apparel from the US had gone up by 9.77 per cent to $24.866 billion during 2022 compared to $22.652 billion in 2021. In the recent years, the US textile and clothing exports have remained in the range of $22-25 billion per annum. In 2014, they stood at $24.418 billion, while the figure was $23.622 billion in 2015, $22.124 billion in 2016, $22.671 billion in 2017, $23.467 billion in 2018, and $22.905 billion in 2019. The value had dropped to $19.330 billion in 2020 due to the COVID-19 pandemic. 

Fibre2Fashion News Desk (KUL)