Global Economy: US Textile And Clothing Exports Fell 3.75% Year-On-Year From January To May

According to foreign news on July 9, according to the data of the U.S. Office of Textiles and Clothing (OTEXA), the export volume of U.S. textiles and clothing in the first five months of this year fell 3.75% year on year to $9907 million, and major markets such as Canada, China, and Mexico experienced declines. The same period last year was US $10.292 billion.

Among the top 10 markets, exports to the Netherlands increased by 23.27% year-on-year to 2066.23 million US dollars; Exports to the UK and the Dominican Republic increased by 14.4% and 4.15% respectively.

In contrast, exports to Canada, China, Guatemala, Nicaragua, Mexico and Japan declined by 35.69%. Among them, the export value to Mexico was 288403.3 million dollars, the export value to Canada was 224097.6 million dollars, and the export value to Honduras was 559.2 million dollars.

From the perspective of categories, clothing exports from January to May increased by 4.35% year-on-year to US $3.00509.4 billion, while fabric exports decreased by 4.68% year-on-year to US $3.55358.9 billion. The export volume of yarn, finished goods and other products declined by 7.67% to US $176014.1 billion and 10.71% to US $158845.8 billion, respectively.

In 2022, the US textile and clothing exports increased by 9.77% to US $24.866 billion from US $22.652 billion in the previous year. In recent years, the annual export of textiles and clothing in the United States has remained between $22 billion and $25 billion. US $24.418 billion in 2014, US $23.622 billion in 2015, US $22.124 billion in 2016, US $22.671 billion in 2017, US $23.467 billion in 2018 and US $22.905 billion in 2019.

Affected by the COVID-19 epidemic, the export volume declined to 19.33 billion US dollars in 2020.