The overall textiles and apparel imports by the US in 2013, stood at $105 billion, after crossing the $100 billion dollars mark in 2011. In 2013, imports increased by 3.8 per cent in value terms over 2011, hinting at a revival in consumer sentiments that were under pressure following the economic slowdown.
As per a study by Wazir Advisors, overall imports by the US in 2013 stood at $81 billion, 4 per cent more than 2012. In volume terms, imports increased 4.6 per cent last year, more than value growth, which means average unit price (at consolidated level) has decreased from 2012. An analysis of value and volume change in US imports over last decade indicate barring 2006, 2007, 2008 and 2011, the average prices at consolidated level has decreased over the previous year. A long-term analysis of average prices, shows that in last two decades prices have come down tremendously.
Share of exporting countries and goods
China is the leading supplier to the US with 40 per cent share whereas Vietnam emerged as a distant second with 8 per cent share. However, Vietnam is the fastest growing supplier nation with trade registering 15 per cent growth in US dollars over the previous year.
Apparel was the largest imported category by with a share of 76 per cent and fabrics,
yarns and others (including home textiles) had a share of 6 per cent, 1 per cent and 17 per cent respectively. Among the top five apparel exporters to US, supplies from Vietnam and Bangladesh have grown in double digits over 2012, whereas Indonesia and Mexico were flat. China with maximum share of 37 per cent grew by 2 per cent.
Nearly 75 per cent of US apparel imports (in value terms) are concentrated in top 10 categories that registered positive growth except, women’s/girls’ suits or dresses category, which was down by 0.4 per cent. Knitted category with a share of 53 per cent in value terms is bigger than woven apparel category and witnessed faster growth in 2013.
China and Vietnam are the top suppliers for both cotton and MMF based garments. However, for cotton garments Bangladesh is the third largest supplier whereas for MMF garments Indonesia holds the 3rd rank.
India’s export to the US
Indian textiles and apparel exports to US were $6.3 billion in 2013, up 7 per cent from 2012. Apparel was the largest category with a share of 51 per cent followed by others (including home textiles) which had a share of 43 per cent. Though maximum growth in 2013 was registered by fabric segment the trade value is small to make any sizeable impact.
Cotton based apparels is the largest sub-segment in Indian apparel exports to US with a value of $2.3 billion dollars in 2013, which suffered de-growth by 3 per cent over 2012. Manmade fiber based apparel exports is the second largest sub-segment with a value of $0.7 billion in 2013 grew at a much higher rate of 15 per cent over 2012.
Nearly 80 per cent of Indian apparel exports to the US (value terms) are in top 10 apparel categories. In 2013, the category of knitted men’s/boy’s underwear registered an exceptionally high growth rate. In addition, knitted jerseys and women’s shirts were the two categories with double digit growth rates. However, India’s largest exported apparel category to US – women’s woven suits, dresses, and skirts along with knitted T-shirts and track suits suffered de-growth. On an overall basis the apparel export from India to US grew by 6 per cent to reach 3.2 billion dollars.
