Category-wise, US apparel imports from Turkey rose by a sharp 62.39 per cent to $702.627 million, compared to $432.681 million during January-October 2020. While non-apparel textile imports rose 44.66 per cent to $1.667 billion in January-October 2021, over $1.252 billion in the comparative period of last year.
This increase in textile-apparel export by Turkey, is in line with the growth in its overall exports to the US that have increased by 45 per cent year-on-year during January-November this year to $13.2 billion, according to the Turkey-U.S. Business Council. On the other hand, Turkey imported $11.7 billion of goods from the US during the same period.
One of the reasons for a surge in US-Turkey trade is the steps taken for resolving Section 301 digital services tax investigation, which otherwise would attract additional 25 per cent customs tax on Turkish products entering the US.
Fibre2Fashion News Desk (RKS)