Foreign news on March 13, almost all cotton products (clothing, home textiles, etc.) sold in U.S. retail stores are imported. The country’s cotton product imports in the 2021 calendar year hit a record high in 2010. The highest level since the beginning of the year is expected to provide further support for the record high cotton consumption in the 2021/22 season (August to July of the following year).
The United States is the largest importer of cotton products. The country’s demand is the main factor in determining how much cotton yarn is produced and is therefore a pioneer indicator of global cotton consumption.
Data from the Office of Textile and Apparel of the International Trade Administration (OTEXA) show that the import volume of U.S. cotton products in 2021 is US$49 billion, due to U.S. consumers’ demand for clothing and home textiles ( Such as towels, bed sheets, etc.) demand is strong. Under COVID-19 restrictions, U.S. consumers will spend more of their disposable income on purchasing goods rather than services in 2021.
As some consumers continue to work from home, soft and comfortable knitted clothing is favored, boosting demand for cotton products, while U.S. household purchasing and improvement needs make home textiles a necessity Consumption. Imports were also boosted by pent-up demand from the previous year and rising discretionary incomes. In 2020, U.S. cotton product imports fell to the lowest level in nearly 20 years.
U.S. cotton product imports are closely related to global cotton consumption trends. In the first five months of 2021/22 (August-December), U.S. cotton product imports remained strong, with December 2021 hitting a record high for the month. Despite growing consumer concerns about inflation, ample disposable income in the United States and strong recent imports are expected to further support record global cotton consumption in 2021/22.
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