STRONG AMERICAN DOLLAR FUELS US TEXTILE AND CLOTHING IMPORTS, BUT EXPORTS REMAIN STRONG TOO
December 31st, 2022
US imports of textiles and apparel continue to grow as the strong dollar makes it cheaper for American companies to purchase garments overseas, but this growth trajectory does not reflect the realities of the market, according to industry experts.
Data from the US Office of Textile and Apparel (OTEXA) (1) shows that US imports of textiles and apparel increased by 22.76% to USD114.787 billion in the first 10 months of 2022, compared to USD93.505 billion in the same period of 2021.
The two segments benefitting the most from the strengthening dollar are the lower ...
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