US: Global export guide for textile and apparel firms
A new guide profiling the 15 largest export markets for US exports of textiles and apparel, as well as the five fastest growing markets in each category, has been produced to help US firms looking to grow their businesses internationally.
The 'Going Global' report from the Commerce Department's Office of Textiles and Apparel (OTEXA) notes that the growth of the global economy provides US firms with greater opportunities to seek out new markets and customers.
Moreover, with increased competition from overseas, companies are looking to diversify their client base and find new ways to grow.
The increasingly global supply chain for textiles and apparel includes customers, suppliers and manufacturers in North America, Latin America, Europe, Africa and the Asia Pacific region - all of which represent potential partners for US firms looking to expand abroad.
According to OTEXA data, 2011 saw total US textile and apparel exports increase by nearly 14% to $22.4bn, up from $19.7bn in 2010.
Profiled in the market report are the 15 largest export markets for US textiles and apparel - which include Canada, Mexico, Honduras, China, Dominican Republic, Japan, El Salvador, United Kingdom. Belgium and Hong Kong.
Detailed economic and trade information is provided for each of the 15 markets, as well as detailed data on export trends and processes such as licensing requirements, trade agreements and tariffs. This can be used to help determine which markets are most attractive and offer the greatest long-term growth opportunities.
The report also profiles the five fastest growing markets for US exports of textiles (Chile, Turkey, Peru, Sweden and Poland) and apparel (Chile, UAE, Netherlands, Israel, Malaysia).
While exports to these countries are at lower levels, they are growing rapidly thanks to factors like economic development and recently-signed free trade agreements with the US, and now present new opportunities.
The report also highlights each textile and apparel category, classified under the Harmonized System, and the corresponding top five export markets.
Click here to download a copy of the 'Going Global' guide.
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