(2) “China + Vietnam + others” is still the mainstream mode of American textile and apparel procurement, but the connotation has changed.
On the one hand, China is still the main source of procurement for textile and apparel companies in Europe and North America, but the dependence of European and North American companies on China has decreased. One-third of the interviewed companies said that their purchases in China in 2022 will not exceed 10% of its total purchases, and 50% of the interviewed companies said that their purchases in Vietnam exceeded those from China. At the same time, the share of “China + Vietnam” has dropped from 40-60% a few years ago to 20-40%. On the other hand, the members of the Dominican Republic-Central American Free Trade Agreement (CAFTA-DR) have become increasingly important sources of procurement. In 2022, about 20% of the companies surveyed said that their procurement ratio in the above-mentioned countries exceeded 10%. In 2021, only 7% of the companies surveyed will achieve this ratio.
On the one hand, China is still the most important source of procurement for US textile and apparel companies, but the dependence of US companies on China has decreased. One-third of the interviewed companies said that their purchases in China in 2022 will not exceed their total purchases 10% of the respondents, and 50% of the interviewed companies said that their purchases in Vietnam exceeded those from China. At the same time, the share of “China + Vietnam” has dropped from 40-60% a few years ago to 20-40%. On the other hand, the members of the Dominican Republic-Central American Free Trade Agreement (CAFTA-DR) have become increasingly important sources of procurement. In 2022, about 20% of the companies surveyed said that their procurement ratio in the above-mentioned countries exceeded 10%. In 2021, only 7% of the companies surveyed will achieve this ratio.
Post time: Dec-02-2022