Sep 06, 2023
As of May, textile and apparel imports in the United States remains weak, with a cumulative year-on-year decline of 22.2% in the first five months. Among them, imports from China decreased by 27.2% compared to the same period last year, and a turning point has not yet emerged. The weakened demand for textile and apparel imports in the United States is due to several factors. Firstly, wholesalers and retailers in US still have relatively high inventory and have not completed destocking, which diminishes the motivation for restocking. Secondly, the United States is in a period of inflation and interest rate hikes, leading to a decline in domestic consumption capacity for textile and apparel compared to previous years. Amidst the subdued demand for textile and apparel imports in the United States, what are the differences between cotton and chemical fiber categories in import performances?