U.S. apparel imports continued to soar in August, reaching a record high for the second straight month and topping $10 billion for the first time ever, according to Commerce Department data released last week.
Total apparel imports rose by 8.7% over August 2014, to $10.1 billion on a CIF basis.
With retail apparel sales growing at between 1 and 2 percent this year, the data are evidence that imports continue to gain share from domestically-produced apparel despite the prevailing folklore that U.S.-made clothing is a growing trend.
The apparel import increase contrasted sharply with total U.S. imports in the month, which fell by 3.1% to $192 billion despite the purchasing power of the stronger U.S. dollar.
On a 12-month smoothed basis, which corrects for volatility of data in a particular month, apparel import growth was 5.6% in August, its biggest monthly jump in almost four years.
China, Vietnam, Bangladesh, Indonesia and India are the top five sources of U.S. imported apparel so far this year.
Apparel exports outperformed the total export market as well, falling by 7.5% compared to last August, to $522 million, while total U.S. exports of goods and services plunged by 10.5%. On a 12-month smoothed basis, apparel exports increased by 2 percent, their smallest monthly increase in almost two years.
How Amazon may strip Whole Foods of its touchy-feely ethos—and why that's a good thing—had how cold brew proves you can teach old dogs new tricks.Read more
Loftex Home and GHCL sign CertainT licences, Hollander Sleep Products Buys Pacific Coast Feather and Oeko-Tex certifies Tuft & Needle.Read more
The National Retail Federation continues to lobby Congress with regards to the border adjustment tax, reiterating its claim that it would shift corporate tax savings to consumers.Read more
NRF announced new board members this week, while Topshop hired a new CEO and Macy's stepped up its off-price game with a new executive.Read more
Fashion can’t escape what’s happening in the world whether it wants to or not, and for the Autumn/Winter 2018-19 season, textiles will look to balance all that’s been upended.Read more
The Chittagong Port Authority has taken steps to alleviate the congestion situation at Bangladesh’s top port, but no comprehensive plan is in the works to fix what has been a long-term logistical problem.Read more
Looking to boost cotton quality and exports, Egypt’s Ministry of Trade and Industry has signed a cooperation protocol with United Nations Industrial Development Organization (UNIDO) and the Italian Development Cooperation.Read more