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FASHION VALUE CHAIN

The US continues to import textiles and clothing at a rapid rate; in the first half of 2022, imports of these goods increased by 30.97% to $66.308 billion from $50.626 billion in the corresponding period of 2021. China continues to be the top supplier of textiles and apparel to the US, with a share of 26.8%, followed by Vietnam with 13.87%.

According to the most recent Major Shippers Report published by the US Department of Commerce, clothes made up the majority of textile and apparel imports by the US in January–June 2022 and were valued at $49.578 billion, while non–apparel imports accounted for $16.729 billion.Segment-wise, imports from Bangladesh and Indonesia increased among the top 10 garment suppliers to the US.

Imports from India and Cambodia too grew 57.27 per cent and 52.52 per cent respectively. Additionally, imports from Pakistan, which is among the top 10 suppliers, registered a growth of 49.99 per cent compared to the same period of the previous year.

In the non-apparel category, among the top 10 suppliers, imports from Cambodia soared by 73.09 per cent year-on-year. Imports from Vietnam and Italy climbed 29.02 per cent and 27.54 per cent respectively. On the other hand, imports from Turkey dipped by 8 per cent. Of the total US textile and apparel imports of $66.308 billion during the period under review, cotton products were worth $29.541 billion, while man-made fibre products accounted for $33.396 billion, followed by $1648.531 million of wool products, and $1721.557 million of products from silk and vegetable fibres.

In 2020, US textile and apparel imports had decreased sharply, mainly on account of pandemic-induced disruption, to $89.596 billion compared to imports of $111.033 billion in 2019. But imports rebounded again in 2021 to surpass the pre-pandemic level and ended at $113.938 billion. The latest import figures indicate that US economy is witnessing a fast recovery, and the world’s largest economy is continuing to support economic recovery in developing countries.