US's textile and apparel import unit price hits a new low in May

In May 2023, the textile and apparel imports of the United States amounted to 8.8 billion square meters, representing a year-on-year decrease of 17.4% but an increase of 11.4% compared to the previous month, reaching a new high in nearly eight months. The import value stood at 86.7 billion US dollars, down 24.7% year-on-year but up 9.6% month-on-month.

Among them, apparel import was 1.99 billion square meters, showing a year-on-year decrease of 28.2% but rose 12.4% month-on-month. The import value of apparel reached 6.3 billion US dollars, decreasing by 26% year-on-year but up 8% month-on-month.

In May, the total volume of textile and apparel imports from China was 2.44 billion square meters, down 15.5% year-on-year. The value of import from China amounted to 2.01 billion US dollars, dropping by 19.4% year-on-year. Among them, the total volume of apparel imported from China was 700 million square meters, with a year-on-year decrease of 17.6%, and the value reached 1.24 billion US dollars, indicating a year-on-year decrease of 24.9%.

The unit price of US's textile and apparel imports fell below 1 US dollar per square meter for the first time, reaching 0.99 US dollars per ton, hitting a new low.