March 30, 2023
WASHINGTON, DC—National Council of Textile Organizations (NCTO) Chairman David Poston delivered the trade association’s State of the U.S. textile industry overview at NCTO’s 19th Annual Meeting on March 30.
Mr. Poston’s speech highlighted the impacts of macroeconomic factors on the U.S. textile industry and the resilience of the U.S. textile industry; trade and investment data showing growth in the sector across the board; and NCTO’s policy priorities for domestic textile manufacturers.
“The U.S. textile and apparel industry faced challenging macroeconomic conditions throughout the year,” Poston states in the speech. “Despite these challenges, there were also many positive trends that helped offset some of those pressures, including softening inflation towards the latter half of the year, coupled with a surge in onshoring and nearshoring that led to historic investments, commitments and expansion in the U.S. and the Western Hemisphere.”
A link to his full remarks as prepared for delivery are included in this press statement along with a link to a key facts infographic prepared by NCTO illustrating the current economic status of the U.S. textile industry.
Mr. Poston is President of Palmetto Synthetics, a South Carolina leading provider of specialty synthetic fibers, producing high-quality coarse denier fiber for the abrasives industry, as well as fine denier solution dyed PET.
NCTO’s annual meeting was held at the Grand Hyatt Hotel in Washington March 28-30.
NCTO is a Washington, DC-based trade association that represents domestic textile manufacturers.
- U.S. employment in the textile supply chain was 538,067 in 2022.
- The value of shipments for U.S. textiles and apparel was $65.8 billion in 2022.
- U.S. exports of fiber, textiles and apparel were $34.0 billion in 2022.
- Capital expenditures for textiles and apparel production totaled $2.27 billion in 2021, the last year for which data is available.
Vice President, Communications
National Council of Textile Organizations
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