US' textiles & apparel imports see modest growth of 0.8% in Jan-Oct

During the first ten months of 2024, apparel imports, which constitute the majority of US textile imports, decreased by 0.43 per cent to $67.046 billion, down from $67.337 billion in the same period of 2023. However, non-apparel imports rose by 4.77 per cent to $23.754 billion, according to the US Department of Commerce’s Major Shippers Report.

US apparel imports from Cambodia grew by 12.85 per cent, while those from Pakistan rose by 4.44 per cent. Apparel imports from India and Vietnam also saw gains of up to 3.87 per cent. In contrast, imports from China fell by 1.41 per cent, Bangladesh by 3.31 per cent, Indonesia by 1.51 per cent, Mexico by 8.75 per cent, Honduras by 4.49 per cent, and Italy by 2.58 per cent.

In the non-apparel sector, imports increased by 8.66 per cent from China, 4.04 per cent from Turkiye, 19.65 per cent from Vietnam, 6.67 per cent from India, and 10.48 per cent from Cambodia. Meanwhile, shipments from Mexico to the US dropped by 5.54 per cent, with further declines from Italy, Canada, and South Korea.

During the review period, total US textile and apparel imports stood at $90.800 billion. Man-made fibre products accounted for the largest share, totalling $47.279 billion, followed by cotton products at $37.375 billion, wool products at $3.540 billion, and silk and vegetable fibre products at $2.604 billion.

In 2023, the US imported textiles and apparel worth $104.959 billion, marking a 20.51 per cent decrease from 2022. Apparel imports fell by 22.05 per cent to $77.840 billion, while non-apparel imports declined by 15.73 per cent to $27.119 billion. In 2022, US textile and apparel imports had risen to $132.201 billion, up from $113.938 billion in 2021, following a sharp decline in 2020 when imports dropped to $89.596 billion, compared to $111.033 billion in 2019.

Fibre2Fashion News Desk (KUL)