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.