US textile and apparel imports fall 13 per cent to US $ 17.5 billion

US imports of textiles and clothing have been declining in value terms; in the first two months of 2023, they fell by 13.01 percent to US $ 17.554 billion from US $ 20.179 billion in the corresponding period of 2022. With a 24 per cent market share, China continues to be the US’s top supplier of textiles and apparel. Vietnam comes in second with a 14.97 per cent share.

In January-February 2023, the bulk of US textile imports comprised apparel, amounting to US $ 13.215 billion, while non-apparel imports accounted for US $ 4.339 billion, according to the latest Major Shippers Report released by the US Department of Commerce. Both segments experienced a decline in inbound shipments. Apparel imports dropped by 11.86 per cent compared to the US $ 14.994 billion traded in January-February 2022, while non-apparel imports fell by 16.31 per cent from US $ 5.185 billion in the same period of the previous year.

Bangladesh and Nicaragua were among the top ten countries supplying the US with clothing, with annual import growth rates of 4.70 and 2.30 percent, respectively. India-related imports also experienced a tepid 0.42 percent increase. Imports from China and Cambodia, however, fell by 29.65 per cent and 26.05 per cent, respectively. The other top 10 countries, five of them, saw a decline.

The sum of US textile and clothing imports for the time period under consideration was US $ 17.554 billion. Products made of synthetic fibres had a market value of US $ 9.044 billion, while those made of cotton were worth US $ 7.350 billion. Products made of wool accounted for US $ 533.113 million, while those made of silk and vegetable fibres totaled US $ 627.002 million.

The amount of textiles and apparel that the US imported in 2022 increased from US $ 113.938 billion in 2021 to US $ 132.201 billion. Following a dramatic dip in 2020, when the nation’s imports fell to US $ 89.596 billion from US $ 111.033 billion in 2019, there was a big uptick in 2019.