What is really the quantum of apparel and textile imports into US ?
How do these imports compare to those made in 2009 and 2010 ?
Did the recessionary conditions affect the imports of textile and apparel in 2011 ?
How much of these imports were under Free Trade Agreements ?
Lets find answer to these questions in the following table :
|Import From||2011 (Jan –Nov)||2010 (Jan-
|2009 (Jan- Dec)||2010 (Jan – Dec)|
|World||$106.1 billion||$96.7 billion||$90.5 billion||$104.6 billion|
|Under Free Trade Agreements||$15.7 billion||$13.99 billion||$13.6 billion||$15.2 billion|
|% under Free Trade Agreements||14.8%||14.46%||15.02%||14.53%|
The total textile and apparel imports into US in 2010 were about $104 billion and those in 2011 (Jan-Nov) have touched $106 billion. Also when we compare with 2009, the imports increased from $90.5 billion significantly rose to $104 billion in 2010 and continue to rise in 2011. This reflects the inherent strength of the US market that inspite of the economic recession the textile and apparel imports continue to rise .Though the increased cotton prices may have played some role in increasing the value of these imports, still the sentiment for imports seems positive for the entire industry..
Also, it is interesting to note that almost 15% of all imports fall under the various Free Trade Agreements like CAFTA, AGOA etc. The govt. has been maintaining this figure at around 15% for last 2 years .
What is the % of denim apparel imports out of these total imports ??
Its around 4% !. Though it looks small, denim is still an important apparel category when viewed in comparison to other categories.