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Insight | Time: Sep 30 2020 1:49PM
MoM US textile and apparel imports recover further
 
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The latest data showed that US textile and apparel imports reached 6.16 billion square meters in Jul, down by 7.9% year-on-year but up by 32.6% month-on-month; the volume from China was 3,130 million square meters, down by 9% year-on-year but up by 29.4% month-on-month. In Jan-Jul, the cumulative US textile and apparel imports were 33.02 billion square meters, down 17.9% year-on-year; the volume from China was 13.96 billion square meters, down 23.5% year-on-year.



US textile and apparel imports value in Jul was 8.2 billion USD, down 28% year-on-year but up by 42.7% month-on-month; that from China reached 2.5 billion USD, down 41.4% year-on-year but up 30.6% month-on-month. In Jan-Jul, the cumulative US textile and apparel imports were 46.81 billion square meters, down 27.9% year-on-year; the volume from China was 12.14 billion square meters, down 42.8% year-on-year.

US textile and apparel YoY import volume in Jun-Jul was still in the shrinking range, but the decline narrowed. US textile and apparel MoM import volume improved further. The recovery of demand from China was less than the total.



In terms of the proportion of China's textile and apparel imported by US, the proportion of value in July further increased, while that of volume slipped somewhat.



The latest data showed that US apparel imports reached 2.2 billion square meters in Jul, down by 22.1% year-on-year but up by 46.7% month-on-month; the volume from China was 0.85 billion square meters, down by 34.9% year-on-year but up by 31.1% month-on-month. In Jan-Jul, the cumulative US apparel imports were 11.87 billion square meters, down 26.9% year-on-year; the volume from China was 3.92billion square meters, down 37.6% year-on-year. US apparel imports value in Jul was 6.01 billion USD, down 32% year-on-year but up by 51.2% month-on-month; that from China reached 1.58 billion USD, down 50.1% year-on-year but up 36.6% month-on-month. In Jan-Jul, the cumulative US textile and apparel imports were 33.89 billion square meters, down 30.7% year-on-year; the volume from China was 7.35 billion square meters, down 49.2% year-on-year.

In conclusion, the epidemic in the United States is still grim. However, market confidence has slightly improved amid COVID-19 vaccines news, and global demand is recovering slowly. Keep eyes on the changes of epidemic situation in autumn and winter.
[RISK DISCLAIMER] All opinions, news, analysis, prices or other information contained on this report is provided by analyst of Zhejiang Huarui Information Consulting Co., Ltd (CCFGroup) as general market commentary and does not constitute investment advice. CCFGroup will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
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