A $*.* billion loss spread everywhere
According to TexPro, US HS**–** imports from the world fell *.* per cent to $**.** billion in January–May ****. Imports from China dropped from about $*.** billion to $*.** billion. That $*.** billion decline was equivalent to nearly ** per cent of the entire $*.** billion contraction in the US market.
China’s share of the TexPro basket fell from **.* per cent to **.* per cent in one year, and from **.* per cent in January–May ****. More importantly, the decline was not concentrated in a handful of labour-intensive products: China lost both value and share in all ** four-digit knit and woven apparel headings.
Table *: Largest China losses in US apparel imports, January–May ****.
