Business

US T&C Imports Rose 39% During Jan-June 2022

US imports of textiles and apparel in the first six months of 2022 have shown a fairly encouraging performance (in terms of statistics, not sustainability), despite apprehensions of rising inflation. In terms of quantities, US textile and apparel imports rose 39.03% during Jan-June 2022, compared to the same period of 2021. Apparel imports were up almost 24% during the period, while non-apparel imports went up by 46.34%. Productwise, surprisingly, fabric imports witnessed the highest growth of 122.01%. Countrywise, China remained the top supplier, but its share in total US textile and apparel imports went down by almost 25%, during Jan-June 2022, compared with the CPLY. During the first six months of 2022, China accounted for 31.22% of total US textile and apparel imports. Going by various comments from industry analysts, a good chunk of these orders should have come to India. However, India's share in total US T&C exports during Jan-June 2022, went down by almost 5% to 9.78%. Bangladesh's share remained unchanged during this period at 3.64%. So where did the orders go? Turkey and Malaysia mainly. And to some extent to Egypt, Israel, Czech Republic and Mexico. (For detailed report, contact reena@textileexcellence.com)