The United States’ suit imports saw a decline in 2024, with imports dropping by 4.75 per cent, as per data from Office of Textiles and Apparel (OTEXA). The overall import value fell from US $ 1,189.85 million in 2023 to US $ 1,133.28 million in 2024, indicating a downward trend in demand or shifting trade dynamics.
China remained the largest supplier of suits to the US, with imports amounting to US $ 222.92 million in 2024. However, this marked a 3.10 per cent decline from the previous year, hinting at potential sourcing diversification or economic factors affecting trade.
India, another key player, experienced a sharper 5.42 per cent drop in suit exports to the US, bringing its total value down to US $ 54.80 million. Similarly, Mexico witnessed the steepest decline of 21.87 per cent, followed by Bangladesh, which fell 18.69 per cent, and Indonesia, which dipped 11.59 per cent. The weakening of these sourcing hubs suggests shifts in buyer preferences or cost competitiveness.
In contrast to the general downturn, Canada emerged as the biggest gainer, recording an 11.17 per cent increase in suit exports to the US. Imports from Canada rose from US $ 108.44 million in 2023 to US $ 120.56 million in 2024, making it one of the few countries to buck the downward trend. The rise in Canadian suit exports to the US could be attributed to factors such as trade agreements, proximity advantages, or a preference for North American-made apparel.
Vietnam was the only other country to register positive growth, with a 2.53 per cent increase in suit exports to the US. This suggests that Vietnam continues to strengthen its position in the global apparel trade, benefiting from its cost-effective manufacturing and trade relationships with the US.
