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.
At the upcoming edition of Sourcing at MAGIC, attendees will be able to witness the factory of the future right on the show floor.Read more
RIS is recognizing several retail software vendors for their ability to transform industry member’s businesses with technology.Read more
The wool market has battled dwindling demand from the infiltration of high-tech fabrics in the outerwear market for many years and lost supply in its home market of Australia, where growers have increasingly opted for more profitable use of their land.Read more
The U.S. Commerce Department issued affirmative final determinations in the countervailing duty investigations of fine denier polyester staple fiber from the China and India.Read more
The cost of enjoying free shipping on Amazon is going up.Read more
GFG named two new co-CEOs, Walmart International named Judith McKenna as its new CEO and a Louis Vuitton veteran announced his exit.Read more
Portugese mill Tintex is switching from the use of conventional cotton and has launched a new fabric range called Naturally Advanced Cotton by Tintex using four different premium and responsibly grown cottons.Read more