US textile and apparel imports in January-February 2024 decreased year-on-year
Textiles and Apparel: 2024 In January-February 2024, the US imported $19.69 billion worth of textiles and apparel, a 4.8% decrease year-on-year, with the rate of decline narrowing by 18.2 percentage points compared to January.
Imports from China totaled $5.45 billion, a 6.3% increase; accounting for 27.7% of the total, up 2.9 percentage points year-on-year.
Imports from Vietnam reached $2.69 billion, a 1% increase; accounting for 13.7% of the total, up 0.8 percentage points.
Imports from India amounted to $1.64 billion, a 12.3% decrease; accounting for 8.3% of the total, down 0.8 percentage points.
Textiles: In January-February 2024, the US imported $5.59 billion worth of textiles, a 0.1% decrease year-on-year, with the rate of decline narrowing by 20.5 percentage points compared to January.
Imports from China totaled $2.21 billion, an 11% increase; accounting for 39.5% of the total, up 3.9 percentage points year-on-year.
Imports from India amounted to $820 million, an 11.2% decrease; accounting for 14.6% of the total, down 1.8 percentage points.
Imports from Mexico reached $420 million, a 6.5% increase; accounting for 7.5% of the total, up 0.5 percentage points.
Apparel: In January-February 2024, the US imported $14.1 billion worth of apparel, a 6.5% decrease year-on-year, with the rate of decline narrowing by 17.3 percentage points compared to January.
Imports from China totaled $3.24 billion, a 3.3% increase; accounting for 23% of the total, up 2.2 percentage points year-on-year.
Imports from Vietnam reached $2.51 billion, a 0.6% increase; accounting for 17.8% of the total, up 1.3 percentage points.
Imports from Bangladesh amounted to $1.25 billion, a 19.1% decrease; accounting for 8.9% of the total, down 1.3 percentage points.
Leaders from Xiamen C&D Group visited Tongzhou for investigation and guidance
On March 3, Wang Yongqing, Vice President of Xiamen CNOOC Group, visited Tongzhou Group for investigation and guidance. Wei Gangmin, Chairman of our company; Huang Hongyu, President; Li Tao, Vice President; and Zhang Zhiyan, Director of the General Office, met with and participated in a symposium.
Tongzhou Cotton Market Brief, Week 1 of March 2025
1) This week's National People's Congress and the Chinese People's Political Consultative Conference (NPC & CPPCC) in China boosted market expectations for steady growth. In February, the Purchasing Managers' Index (PMI) for manufacturing stood at 50.2%, up 1.1 percentage points from the previous month, indicating a significant improvement in the manufacturing sector.
In 2024, China's dyeing industry saw rapid export growth to ASEAN and RCEP member countries, exceeding the overall export growth rate. However, this growth was accompanied by a decline in prices. From January to December, China's exports of eight major dyeing products to ASEAN totaled 7.908 billion meters, a year-on-year increase of 12.14%, 4.61 percentage points higher than the overall export growth rate, accounting for 23.58% of total exports. The average export price was US\$1.19 per meter, a year-on-year decrease of 2.75%, 0.64 percentage points lower than the overall decline. Exports to RCEP member countries totaled 8.431 billion meters, a year-on-year increase of 11.35%, 3.82 percentage points higher than the overall export growth rate. The average export price was US\$1.17 per meter, a year-on-year decrease of 2.79%, 0.60 percentage points lower than the overall decline.
On February 28, Mr. Huang Hongyu, President of our company, was invited to attend the 2025 Zhangjiagang Cotton Industry Development Conference and, as a guest speaker at the "Xiangshan Roundtable," shared his views on the cotton market and trading opportunities.
Henan Tongzhou Cotton Industry Co., Ltd.
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Henan Tongzhou Cotton Industry Co., Ltd.
Address: 10th Floor, Henan Nongxin Building, No. 19 Commercial Outer Ring Road, Zhengdong New District,Zhengzhou, China
Tel：86037165836206
Email：tongzhou@tongzhoucotton.com
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