US Apparel Imports Continue To Fall
US apparel imports plummeted in February, according to data released last week by the US Census Bureau, continuing the steady decline that started nearly a year ago, and with sluggish demand and declining costs a major factor.
Total apparel imports fell 13.3% in the month, to US$ 6.9 billion on a CIF basis, underperforming the almost 1% increase in total US goods and services imports, which hit US$ 170.9 billion.
On a 12-month smoothed basis, apparel imports fell by 6.7%. Apparel exports fell by 4.4% to US$ 429 billion. Total US goods and services exports rose by 5%.
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