During the first five months of 2023, USA apparel imports witnessed a significant decline in volumes as well as in values. The data was recently released by OTEXA.
Both in terms of volume (9.59 billion SME) and value (US $ 31.52 billion), imports experienced substantial drops, declining by 30.48 per cent and 22.92 per cent respectively.
This Jan.-May ’23 period marked the second most negative phase for US apparel buyers in terms of value-wise imports, trailing closely behind the corresponding period in 2020 when the decline was slightly higher, at over 27 per cent.
What is even more concerning is the decline in apparel volumes during the review period of 2023, compared to the same period in 2020 when the drop was recorded at 26.54 per cent.
However, the import values showed some positive trend in May ’23 as the apparel imports valued US $ 6.40 billion as compared to US $ 5.65 billion in the previous month.
Stay connected to know more insights on country-wise apparel exports to the USA in Jan.-May ’23 period!
