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USA : China propels apparel and textile import surge – June 2004 |
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2004-8-17
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Apparel and textile imports increased rapidly 20.6 percent in June 2004, marking the highest month of imports on record and contributing to the highest second quarter ever.
China led the upswing with several other countries, including Pakistan, India, South Korea and Indonesia, continued to show strong growth bringing into sharper focus what many claim will be the consolidated sourcing picture in the post-quota world that begins in 2005.
According to Ross Arnold, acting director of the agreements division of Commerce’s Office of Textiles and Apparel said, “China’s 61.4 percent increase in June, to 1.1 billion square meters equivalent, came as it has since 2002, ‘overwhelmingly’ in textile and made-up categories no longer under quota.”
For the first six months of the year, combined imports rose 49.3 percent to 5.3 billion SME.
China’s share of the U.S. apparel and textile import market stands at 22.3 percent, based on the past 12 months of trade. In 2001, one year prior to the first significant phase-out of some quotas, China’s import share was 6.7 percent.
In June 2004, textile and apparel from all foreign suppliers rose record 20.6 percent to 4.2 billion SME against a year ago and increased 11.27 percent to 22.4 billion SME for the year to date.
Imports of textiles rose 28.8 percent in June to 2.5 billion SME, while imports of apparel rose 10.4 percent, reversing months of declines, to 1.7 billion SME.
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