US apparel imports from ASEAN have plunged substantially during the January to August ’23 period, as per the latest official statistics released by OTEXA.
During the first 8-month period of 2023, the USA imported apparel worth US $ 15.98 billion, falling massively by 25.35 per cent on a Y-o-Y basis.
This translates to a loss of US $ 5.43 billion of import values in just a year and the industry feels this hampers the business momentum that they saw during 2022.
The share of cotton apparel products was US $ 6.77 billion of total imported values, declining by 29.51 per cent, whereas MMF-based apparel saw a drop of 23.41 per cent to US $ 8.58 billion during the review period.
The top ASEAN country that supplied garments to the USA in the January to August ’23 period was Vietnam with a shipment value of US $ 9.65 billion, which makes up 60 per cent of the total imported values of the USA from ASEAN.
The second largest supplier of apparel in the review period was Indonesia with an export value of US $ 2.89 billion, followed by Cambodia with apparel shipment worth US $ 2.20 billion.
The remaining US $ 1.26 billion worth of apparel was sourced collectively from Malaysia, Myanmar, the Philippines, Laos, Singapore and Brunei.
Source : Apparel Resources
