Understand The Reasons Behind The Record High Import Of Cotton Products In The United States In 2021

2022/3/15 16:24:00 0

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Almost all cotton products (clothing, home textiles, etc.) sold by retail stores in the United States come from imports. The country's cotton imports reached the highest level since 2010 in calendar year 2021, which is expected to provide further support for the record high cotton consumption in 2021 / 22 (August to July of the following year).

The United States is the largest importer of cotton products, and its demand is the main factor determining how much cotton yarn is produced, so it is a pioneer indicator of global cotton consumption.

According to the office of textiles and apparel (OTEXA) of the international trade administration, US cotton imports amounted to US $49 billion in 2021, due to strong consumer demand for clothing and home textiles (such as towels, bed sheets, etc.). In 2021, American consumers will spend more of their disposable income on goods rather than services under the new crown epidemic.

As some consumers continue to work at home, soft and comfortable knitwear is favored, boosting the demand for cotton products. Meanwhile, home textiles have become a necessary consumption in the United States.

Imports were also boosted by pent up demand and higher disposable income in the previous year. In 2020, the US cotton imports fell to the lowest level in nearly 20 years. The import of American cotton products is closely related to the global cotton consumption trend. In the first five months of 2021 / 22 (August December), US cotton imports remained strong, reaching a record high in December 2021. Despite growing consumer concerns about inflation, ample disposable income in the US and recent strong imports are expected to further support the record global cotton consumption in 2021 / 22. 　