The latest statistics released by the US Office of Textiles and Apparel (OTEXA) showed that US Commerce Department reports, unsurprisingly revealed the US trade deficit hit a record $68.9 billion in October, whereas aggregate US apparel imports of all fibres by volume strengthened year-on-year.
This lift in apparel imports was purely supported by gains in imports of cotton and synthetic apparel, while wool apparel reported a decline on the same month a year earlier - the first year-on-year decline since May 2004.
The decline in wool apparel occurred despite a 253 percent jump in imports from China, reflecting reduced exports from Hong Kong, India and the EU15. As expected, China was ranked in first position as a supplier to the US of wool apparel.
In anticipation of future restrictions being placed on certain Chinese apparel and textiles in 2006, it is likely that US buyers increased their imports of Chinese wool apparel during the month.
At present, China is the largest source country for all wool apparel - apart from men's wool trousers - where it was ranked in second place behind India.
Australian Wool Innovation Limited (AWI) is a research and development organization that works with woolgrowers, researchers, processors and manufacturers. The company? activities are financed from Federal budget allocations and wool industry levies. The Federal core allocation to AWI in 2003-2004 is around $14 million.
Australian Wool Innovation Limited
