Suit imports by the US declined by 4.75 per cent in 2024, shows data from the Office of Textiles and Apparels (OTEXA). The value of these imports contracted from $1,189.85 million in 2023 to $1,133.28 million in 2024, indicating a downward trend in demand or changing trade dynamics.
China remained the largest supplier of suits to the US, with imports totaling $222.92 million in 2024. However, this represented a 3.10 per cent decline from the previous year, suggesting possible sourcing diversification or economic factors impacting trade.
Another significant player, India experienced a sharper 5.42 per cent decline in suit exports to the US, bringing its total value down to $54.80 million. Similarly, Mexico saw the steepest decline at 21.87 per cent, followed by Bangladesh, which fell 18.69 per cent, and Indonesia, which dipped by 11.59 per cent. The weakening of these sourcing centers indicates shifts in buyer preferences or cost competitiveness.
In contrast to the overall 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 $108.44 million in 2023 to $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 due to factors such as trade agreements, geographical 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 U.S. 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.
