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Apparel Imports Drop by Double Digits in February

Total U.S. apparel imports plummeted in February, according to data released last week by the U.S. 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 by 13.3% in the month, to $6.9 billion on a CIF basis, underperforming the almost 1 percent increase in total U.S. goods and services imports, which hit $170.9 billion. On a 12-month smoothed basis, apparel imports fell by 6.7%.

Apparel exports fell by 4.4% to $429 billion. Total U.S. goods and services exports rose by 5 percent.

 

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