Soaring cotton prices have led to a surge in U.S. imports of chemical fiber clothing
U.S. clothing imports rebounded sharply in February 2018, with imports of clothing from China soaring. One of the reasons is that the Spring Festival holiday time this year is different from last year.
In February, U.S. clothing import volume increased by 9.2% year-on-year, the import unit price fell by 2.1% year-on-year, and the import value increased by 6.9% year-on-year. Among them, the import volume of Chinese clothing increased by more than 18% year-on-year, and the import value increased by 12.2% year-on-year. The import volume and import value from other countries increased by 3.8% and 4.6% respectively year-on-year.
From January to February 2018, U.S. apparel imports increased by 4.4% year-on-year, while they fell by 1% year-on-year in the same period last year.
It is understood that as cotton prices continue to soar to higher levels, the United States’ import share of cotton and chemical fiber clothing has changed significantly. In February 2018, the United States’ imports of cotton clothing increased by only 5.7% year-on-year, while imports of chemical fiber clothing increased by 12.5% year-on-year. The average import unit price of chemical fiber clothing fell by 4.1% compared with the same period last year, and the average import unit price of cotton clothing increased by 1% compared with the same period last year. (Title: Soaring cotton prices have led to a surge in U.S. imports of chemical fiber clothing)
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