**US textile imports slow down by 23% in the first half of the year**
According to the latest data released by the Office of Textiles and Apparel (OTEXA) of the US Department of Commerce, the value of textile and apparel imports into the United States decreased by 23.1% in the first six months of 2023 compared to the same period last year, reaching $47.4 billion.
This decline was primarily driven by a sharp decrease in imports from China, which fell by 27.5% to $19.2 billion. Imports from other major suppliers, such as Vietnam, India, and Pakistan, also declined, but at a more modest pace.
The slowdown in textile imports is attributed to several factors, including the ongoing trade war between the US and China, the COVID-19 pandemic, and the rising cost of raw materials.
The Trump administration imposed tariffs on Chinese goods in 2018, which led to a sharp decline in imports from China. The Biden administration has maintained these tariffs, and there is no indication that they will be lifted anytime soon.
The COVID-19 pandemic has also disrupted global supply chains, making it more difficult and expensive to transport goods around the world. This has led to a slowdown in imports from all major suppliers.
Finally, the rising cost of raw materials has made it more expensive to produce textiles and apparel. This has led to higher prices for consumers, and it has also made it less profitable for businesses to import textiles and apparel.
The slowdown in textile imports is likely to continue in the coming months. The trade war between the US and China is not expected to end anytime soon, and the COVID-19 pandemic is still causing disruptions to global supply chains. As a result, businesses should be prepared for continued increases in the cost of imported textiles and apparel.
**Here are some additional highlights from the OTEXA report:**
* The value of textile and apparel imports from China fell by 27.5% to $19.2 billion in the first six months of 2023.
* The value of textile and apparel imports from Vietnam fell by 10.2% to $8.2 billion.
* The value of textile and apparel imports from India fell by 6.3% to $5.6 billion.
* The value of textile and apparel imports from Pakistan fell by 4.7% to $2.9 billion.
* The total value of textile and apparel imports from all countries fell by 23.1% to $47.4 billion.
**Source:**
* Office of Textiles and Apparel (OTEXA) of the US Department of Commerce: https://www.otexa.commerce.gov/.
