Any textile or apparel supplier who is heavily reliant on the US market can not be finding business easy at present. According to “Trends in US Textile and Clothing Imports”, starting on page 122 of this issue of Textile Outlook International, US imports of textiles and apparel in the first five months of 2009 were down by 14.1% in value and by 11.1% in volume compared with the corresponding period a year earlier.
Most of the major suppliers fared badly, with two notable exceptions. US imports from Vietnam were up in value by 2.9% during the five-month period while those from Bangladesh grew by a significant 9.9%.
Even China is struggling—even though 2009 is its first year for several decades without quota restrictions. In the first five months of the year, US imports from the country were down by 3.7% in value and by 6.5% in volume.
One particularly unwelcome development for producers—although welcome for US consumers—is a reversal of the price firming which has been witnessed in the US market in recent years.
In the first five months of 2009, the average price of US textile and apparel imports fell by 3.5% compared with the corresponding period of 2008, after growing by 5.7% between 2005 and 2008.
