Turkey-US trade is witnessing record high figures since the beginning of this year. US textile-apparel imports from Turkey registered $2.370 bn in the first ten months of this year, which is a nearly 50 percent increase over imports of $1.586 bn in the same months of 2020, according to data from the Office of Textiles and Apparel (OTEXA).
Category-wise, US apparel imports from Turkey rose by a sharp 62.39 per cent to $702.627 mn, compared to $432.681 mn during January-October 2020. While non-apparel textile imports rose 44.66 per cent to $1.667 bn in January-October 2021, over $1.252 bn in the comparative period of last year.
This increase in textile-apparel export by Turkey, is in line with the growth in its overall exports to the US that have increased by 45 percent year-on-year during January-November this year to $13.2 bn, according to the Turkey-U.S. Business Council. On the other hand, Turkey imported $11.7 bn of goods from the US during the same period.
One of the reasons for a surge in US-Turkey trade is the steps taken for resolving Section 301 digital services tax investigation, which otherwise would attract additional 25 per cent customs tax on Turkish products entering the US.
Turkey-US trade is witnessing record high figures since the beginning of this year. US textile-apparel imports from Turkey registered $2.370 bn in the first ten months of this year, which is a nearly 50 percent increase over imports of $1.586 bn in the same months of 2020, according to data from the Office of Textiles and Apparel (OTEXA).
