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Insight | Time: Apr 14 2021 3:19PM
US textile and apparel imports rose year-on-year in Feb
 
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The latest data show that US textile and apparel imports reached 5.81 billion square meters in Feb, up by 21.5% year-on-year but down 6.6% month-on-month respectively; the volume from China was 2,610 million square meters, up by 47.9% year-on-year but down 6.8% month-on-month. In Jan-Feb, the cumulative US textile and apparel imports were 12.02billion square meters, up 14.8% year-on-year; the volume from China was 5.41 billion square meters, up 27.6% year-on-year.




US textile and apparel imports value in Feb was 7.62 billion USD, down 2.3% year-on-year and 4.2% month-on-month; that from China reached 1.98 billion USD, up 15.9% year-on-year but down 9.2% month-on-month. In Jan-Feb, the cumulative US textile and apparel imports were 15.6 billion square meters, down 7% year-on-year; the volume from China was 4.2 billion square meters, down 0.5% year-on-year.




The import volume of US textile and apparel grew fast year-on-year, especially the volume from China, but it declined month-on-month.



From proportion of US textile and apparel imported from China, the share declined further in Feb, with volume accounting for 44.9% and value accounting for 26% respectively.

US apparel imports moved up by 24% year-on-year in Feb



The latest data show that US apparel imports reached 2.07 billion square meters in Feb, up by 3.2% year-on-year but down 3% month-on-month respectively; the volume from China was 730 million square meters, up by 24% year-on-year but down 9.6% month-on-month. In Jan-Feb, the cumulative US apparel imports were 4.2billion square meters, down 2.6% year-on-year; the volume from China was 1.51 billion square meters, up 7.6% year-on-year.

US apparel imports value in Feb was 5.39 billion USD, down 8.7% year-on-year and 2.3% month-on-month; that from China reached 1.15 billion USD, up 6.8% year-on-year but down 11.1% month-on-month. In Jan-Feb, the cumulative US textile and apparel imports were 10.92 billion square meters, down 13.8% year-on-year; the volume from China was 2.45 billion square meters, down 9.1% year-on-year.



US textile imports demand was still strong in Feb, with a significant yearly growth, and the growth rate of import volume was greater than the value. US textile imports volume and value from China accounted for 50.6% and 37.1% respectively.

In conclusion, US textile and apparel import demand in Feb was still recovering year-on-year, but the growth rate of textile imports was fast. However, the import demand in Feb weakened further month鈥搊n-month, indicating that the recovery in Feb was still insufficient. With the increase of vaccination rate in March and April, the demand is expected to improve further.
[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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