A trend is developing when it comes to the United States importing of textiles and apparel. In August of this year, the 2.73 billion square meter equivalents (SMEs) in the US means a 4.3% decrease when compared to the same time last year. This is significant since July’s decline was 3.5% and June 1.3% over the last year.
The textile imports, with a 1% decline seemed to pick up in August when compared to July’s 6.1% dip.
Speaking in dollar values, apparel and textile imports saw a $70.61 billion decrease over August of last year.
On the other hand, India’s share grain is increased 17.8% giving them the biggest gain out of the top 10 exporters (to the U.S.) with apparel and textiles. Since the country is diversifying the sourcing and expanding their garment offering, more companies are choosing India over China whose share fell 7.5%.
Still, China maintains a solid lead gap over Vietnam, the second biggest apparel exporter to the U.S.
Vietnam’s share saw a 10.7% increase while Bangladesh and Pakistan fell 8% and 3% respectively in their apparel and textile export to the U.S.