Textile production in the US is rising with the surge in cotton yarn imports.
As per latest statistics released by OTEXA, cotton yarn imports by the US increased by 96.71 per cent Y-o-Y to $46.80 million during January-March ’22.
Cotton yarn imports by the US have been surging since the yearly slump in 2020.
Of total cotton yarns imported by the US, yarns worth $15.39 million were imported from South Korea registering a 249.74 per cent Y-o-Y growth.
Imports from India grew by 100.49 per cent Y-o-Y to $11.21 million during the period while that from Pakistan surged by 88.61 per cent Y-o-Y to $6.85 million.
Cotton yarn imports by the US valued $105 million in 2018 that declined to $83.19 million in 2019 and further contracted to $76.57 million in 2020. 2021 was the positive year as imports increased to $130.15 million during the year.