Textile trade is giving suppliers nightmares. The imports of textiles and apparel in Europe started declining in August this year, but the growing US market kept their hopes high, however its October imports of textiles and apparel declined sharply.
According to the official US statistics textile and apparel imports in the US declined by 11.2 percent in October ’22 to 7.81 billion square meter equivalent. The textile imports that totaled 5.60 billion square meter equivalent were 8.8 percent less than September 2021 and 7.
5 percent less than October 2021.
The apparel imports declined more sharply to 2.21 billion being lower by 17.5 percent compared with September 2022 and 22.7 percent lower than October2021.
Total imports for the year ending in October 2022 increased to 110.9 billion SME, showing a growth of 24.0 percent from corresponding period of last year. Textile imports registered an increase of 28.4 percent totaling 78.4 billion SME while apparel imports clocked an increase 14.
6 percent to 32.5 billion SME.
China is still the major textile and apparel supplier to the United States as it exported 2.77 billion SME to the US that was 24.5 percent less than October2021. India exported 869.2 million square meter of SME depicting a decline of 13 percent compared with corresponding month of last year. Vietnam with exports of 97.1 billion SME posted a gain of 9.1 percent in the period under review. Turkey posted a growth of 52.4 percent with exports of 526.9 billion SME in October 2022. Bangladesh exported 295 billion SME in October 2022 gaining 5.3% over exports made on October 21. Malaysia was the top gainer as its SME exports increased by 210.
9 percent to 248.1 billion SME. Pakistan’s exports to the US in October 2022 were 248 million SME that were lower by 17.1 percent.
