According to the latest released statistics of OTEXA, USA has imported US $ 69.27 billion worth of garments in January to August period of 2022, noting 37.34 per cent yearly increase.
Volume-wise, the imports surged by 20.58 per cent to 22,558.42 million SME in the 8-month period of 2022.
Particularly in August ’22, the US sourced garments worth US $ 10.36 billion – making it the best month of the year in terms of value-wise import.
The import values in August were 11 per cent higher than the imports done in July ’22.
It’s worth noting here that August also proved to be the best month for the US apparel buyers in 2021 as the imports had surged to US $ 8.07 billion for the first time last year.
It was reported that most of the big retailers in the US are holding back new inventories and are not placing fresh orders in their partner factories located worldwide.
However, the data is contrary to what the global fashion industry has been discussing for a while now. Reason may be the fast-approaching holiday season in the USA as buyers don’t want to see bottlenecks in supplies due to logistics issues closer to the festive season.
In the 8-month period, the top Asian countries – China (US $ 15.55 billion; up 37.16 per cent); Vietnam (US $ 12.81 billion; up 33.62 per cent); Bangladesh (US $ 6.64 billion; up 53.54 per cent); India (US $ 4.16 billion; up 56.88 per cent); and Indonesia (US $ 3.92 billion; up 56.47 per cent) – all upped their respective shipments to USA on yearly basis.
