The demand for clothing products in the USA is on upwards trajectory, as indicated by the first half of 2022 data released by OTEXA.
During January to June ’22, the USA imported US $ 49.58 billion worth of apparels, noting 40.14 per cent yearly surge.
Particularly in June ’22, the imports valued US $ 8.64 billion, up 40.30 per cent on Y-o-Y basis. As compared to May ’22, the US buyers sourced 1.52 per cent more garments.
This M-o-M increase is contrary to what industry has been talking about for last two/three months – downfall in consumers’ demand due to inflation!
However, the predictions are still not clear and some say this demand may not have continued in July and the first week of August, the import data of which has not yet come.
According to NRF, after a record-setting spring, imports at the USA’s major container ports are expected to slow significantly for the remainder of the year, but 2022 should still see a net gain over 2021.
“Retail sales (collectively of all commodities) are still growing, but the economy is slowing down and that is reflected in cargo imports. Lower volumes may help ease congestion at some ports, but others are still seeing backups and global supply chain challenges are far from over,” commented NRF Vice President for Supply Chain and Customs Policy Jonathan Gold.
