US' textiles & apparel exports down 2.8% in Jan-Apr 2024

Among the top ten markets, textile and apparel shipments from the US to China rose by 12.58 per cent to $247.136 million, and to Guatemala increased by 3.96 per cent to $126.807 million in January-April 2024. Exports to Mexico also grew by 2.76 per cent.

In contrast, shipments to the Dominican Republic, Nicaragua, Canada, Honduras, the United Kingdom, the Netherlands, and Japan declined by up to 23.91 per cent. During the period under review, the US supplied textiles and apparel worth $2,349.958 million to Mexico, followed by $1,716.271 million to Canada, and $405.073 million to Honduras.

Category-wise, apparel exports saw a marginal decrease of 4.41 per cent year-on-year to $2,291.941 million. Fabric exports fell by 4.19 per cent to $2,692.247 million in the first four months of this year. Exports of yarn also saw reductions, decreasing by 1.11 per cent to $1,379.391 million. However, the shipment of made-up articles and miscellaneous items increased by 1.34 per cent to $1,256.263 million.

In 2023, the exports of textiles and apparel from the US had decreased by 5.02 per cent to $23.617 billion. The outbound shipment of these items had seen an increase of 9.77 per cent to $24.866 billion in 2022, compared to $22.652 billion in 2021. In recent years, these exports have consistently ranged between $22 billion and $25 billion annually. Specifically, the export value was $24.418 billion in 2014, $23.622 billion in 2015, $22.124 billion in 2016, $22.671 billion in 2017, $23.467 billion in 2018, $22.905 billion in 2019, and $19.330 billion in 2020.

Fibre2Fashion News Desk (KUL)