A Forecast of Global Textile and Apparel Market Shifts In Importing and Exporting - Is this the Final Death Rattle of Domestic Apparel and Textile Manufacturing Industries?

Jacqueline E. Burris

Abstract


This paper examines the main trends in the US apparel and textile manufacturing industry over 20 years. Using data gathered from; International Monetary Fund (IMF) and World Trade Organization (WTO), U.S. Census, U.S. Trade, U.S. Bureau of Labor, and Office of the United States Trade Representatives. This research suggests that the demise of the apparel and textile manufacturing industry is imminent and the recent uptick if not focused properly will be the end and not be recoverable. This research shows two projections for the future of apparel and textile manufacturing in advanced economies. That being, due to the expansion of global trade agreements and policies the global textile and apparel manufacturing industries have become economically reliant upon each other for their own domestic industries survival. Recessions and economic slowing within regions and countries now have become interconnecting with the affects being felt simultaneously resulting in economic recovery taking many years, not just 1 or 2 as seen previously. The strength of the U.S. dollar must be weakened to help offset the spiraling trade deficit, so that domestic manufacturing has time to stabilize.

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