US' textiles & apparel exports down 3.1% to $11.5 bn in H1 2024

Among the top ten markets, exports to Mexico increased by 3.60 per cent, reaching $3.584 billion in January-June 2024.

In contrast, exports to Guatemala, the Dominican Republic, China, Nicaragua, Canada, Honduras, the United Kingdom, the Netherlands, and Japan declined by up to 25.92 per cent. During this period, the US exported $2.613 billion worth of textiles and apparel to Canada, $607.139 million to Honduras, $361.606 million to China, and $313.842 million to the Dominican Republic.

By category, apparel exports slightly decreased by 2.96 per cent year-on-year to $3.488 billion. Fabric exports dropped by 4.27 per cent to $4.083 billion, while yarn exports fell by 4.19 per cent to $2.040 billion. Exports of made-up articles and miscellaneous items saw a marginal decrease of 0.01 per cent to $1.918 billion.

In 2023, US textiles and apparel exports declined by 5.02 per cent to $23.617 billion, following a 9.77 per cent increase 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, with notable figures being $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)