Summary:
The U.S. textile industry is 'almost dead)
Only about 100 textile mills remain
Many textile mills in the United States will be permanently closed!
Data shows that in the last five months of 2023 alone, eight textile mills were closed in the United States, and there are currently only about 100 textile mills left in the country.
Once upon a time, cotton was an important crop in the United States.
Now, with the closure of textile mills one after another and the number of declining volumes, the demand for cotton in the United States is also decreasing.
In the 2023-2024 marketing year, which ends in July, U.S. textile mills will put just 1.74 million bales of cotton into their machines, the lowest level in 139 years, nearly 15% less than last year and even lower than the agency's previous forecast, according to forecasts released by the USDA in February. This has also brought about a series of economic crises in rural areas and the farming industry.
In addition, data from the U.S. Bureau of Labor Statistics shows that the employment rate in textile mills will fall to its lowest level in more than 30 years in 2023.
For a superpower like the United States, 100 textile mills is an incredible number, and many people can't believe it.
In its place, the textile industry in other developing countries is booming.
Whatever the reason, the textile industry in the United States seems to be dying, and let's wait and see.
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