After a steep fall of 14 per cent in October ’22, the USA’s apparel import values have continued to decline even in November ’22 on monthly basis as well as on yearly basis.
As per the latest released data by OTEXA, the USA imported US $ 6.34 billion worth of apparel in the 11th month of 2022, down by 22.11 per cent over October ’22 when import value was US $ 8.14 billion.
The imports are down even on Y-o-Y basis as, in November ’21, the USA imported US $ 7.38 billion worth of apparel.
Cumulatively in January to November ’22 period, USA has imported US $ 93.39 billion worth of apparel, noting 25.72 per cent yearly increase – thanks to substantial increase in imports especially in July-September ’22 quarter in which US buyers sourced apparel worth US $ 29.27 billion – highest ever in a single quarter!
All major Asian apparel exporting countries increased significantly in their export values to the US during the mentioned period.
ASEAN countries’ contribution in the US apparel import value was 30.50 per cent, while China contributed 22.06 per cent in import values.
Source : apparelresources.com/ For more details