U.S. Textile Bag And Canvas Market. Analysis And Forecast to 2025
Vietnam Continues Growing Its Share of Textile Bag And Canvas Exports Into the U.S.
The U.S. ranks first in imports of textile bags and canvas, accounting for a 24% share of global imports (based on USD). It was followed by Japan (13%) and Germany (7%). In 2015, U.S. textile bag and canvas imports totaled 5.66 million USD, which was 322 million USD (6%) higher than the year before.
The U.S. textile bag and canvas imports showed steady growth from 2007 to 2015, with the exception of the 17% drop of 2009. Imports displayed an annual increase of +4.7% throughout the analysed period.
Despite fierce competition, the U.S. continues to be one of the most attractive destinations for overseas suppliers.
China was the main supplier of textile bags and canvas into the U.S., accounting for a 71% share of total U.S. imports in 2015. It was followed by Vietnam (10%), India (4%), Bangladesh (3%), and Mexico (2%). From 2007 to 2015, Vietnam (+20.1% per year) and Bangladesh (+17.5% per year) were the fastest growing suppliers. Vietnam strengthened its position in the U.S. import structure. By contrast, China saw its share reduced.
From 2007 to 2015, the U.S. was a net importer of textile bags and canvas. Net US imports of textile bags and canvas showed a downward trend over the period under review. In 2015, this industry ran a colossal trade deficit of 5.1 billion USD, which amounted to approximately 91% of gross imports.
Source: IndexBox AI Platform
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