Fashion Products: which American States have the greatest potential?

United States top market for worldwide exports. New York, Texas and Illinois top potential destinations

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Fashion Marketselection United States of America American States International marketing

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The 2023 data at world trade level, available in the ExportPlanning Information System, allow to document the centrality of the US market for global exports of Fashion Products: with almost 91 billion euros (equal to 13.2 percent of the total), last year the USA represented by far the main destination for global sales in the industry1.

Fashion Products: top worldwide markets 2023 (total import flows)

Furthermore, with a cumulative growth of almost 36 billion euros, in the period 2020-2023 the United States was largely the first market for absolute increases in imports of Fashion Products2.

The application of the analysis model of the ExportPlanning Market Selection tool to trade data abroad available at the level of American States can allow to build a ranking of market potential for Fashion Products exports.

In particular, for the purposes of this analysis, the following potential indicators were considered for the "E2-finished products for the person" macro-sector of the ExportPlanning classification and for each American State:
  • value of imports 2023: indicates the relevance of the market;
  • change in imports in the period 2020-2023 in value: indicates the growth capacity (measured in absolute terms) of the market;
  • change in imports in the period 2020-2023 as a percentage: indicates the growth capacity (measured in relative terms) of the market.

In the analysis process of the Market Selection model, the aforementioned indicators were normalized, on a scale of 0-100, in order to contribute to the calculation of a synthetic indicator of potential3.

The application of the Market Selection model
to the trade data of the American States
highlights New York, Texas and Illinois
at the top of the ranking for Fashion Products exports

The table below highlights the main American States in terms of levels of potential for Fashion Products exports, with the values recorded by each state for the different indicators considered in the Market Selection.

Export of finished products for the person:
ranking of potential at the level of American States

Potential Index Imports 2023 Delta Imports 2023/2019 CAGR Imports 2023/2019
State (0-100) (Bn $) (Mn $) (% in $)
New York 96.2 65.7 +12 593 + 5.5
Texas 93.4 14.8 +3 251 + 6.4
Illinois 88.3 7.5 + 943 +13.4
Florida 86.6 10.1 +1 875 + 5.3
New Jersey 84.6 16.7 +1 368 + 2.2
Washington 82.7 7.0 +1 528 + 6.3
Georgia 79.3 10.7 + 955 + 2.4
Ohio 76.8 8.1 + 859 + 2.8
Colorado 71.9 2.0 +1 254 +27.1
Tennessee 71.7 7.0 + 536 + 2.0
California 53.2 48.0 -3 732 - 1.9
Source: ExportPlanning processing on US Census Bureau data

Fashion Products Exports: ranking of potential for American States

1. New York

The market of the State of New York, in first place overall in terms of the value of 2023 imports of the Fashion Products (with 65.7 billion dollars), was characterized by a growth rate in the period 2020-2023 faster than average: average annual growth rate (CAGR: Compound Annual Growth Rate) of +5.5%, for an overall increase of +12.6 billion dollars.

India (2023 share of 15.8%) and Switzerland (13.1%) are the main partner countries on the market, preceding - in order - China (9%), Israel (8.5%), France (8.1%) and Italy (7.2%).

2. Texas

The Texas market, in fourth place overall in terms of the value of 2023 imports of the Fashion Products (with 14.8 billion dollars), was characterized by a lively growth rate in the period 2020- 2023: overall +3.3 billion dollars, for a CAGR of +6.4%.

China (2023 share of 20.1%) and Mexico (18.1%) are the main partner countries on the market, preceding France (9.1%). %), Vietnam (7.5%), Switzerland (5.7%), India (4%) and Italy (3.7%).

3. Illinois

The Illinois market, in eighth place in terms of value of 2023 imports of the Fashion Products (with 7.5 billion dollars), was characterized in the period 2020-2023 by a pace of particularly favorable growth: CAGR of +13.4%, for an overall increase of almost 3 billion euros.

In the 2023 ranking of the main partner countries on the market, China is the leader (with a share of 28.4 percent), ahead of Canada (18.4%) and South Africa (16.7%). Italy (2023 share of 2.2%) is in 8th position, first EU partner on the market (and second European partner, after Switzerland).

4. Florida

The Florida market, in sixth place in terms of value of 2023 imports of the Fashion Products (with 10.1 billion dollars), was characterized in the period 2020-2023 by a lively growth rate : overall +1.9 billion dollars, for a CAGR of +5.3%.

China (2023 share of 17.9%) is the main partner country on the market, ahead of France (8.3%), Switzerland ( 7.6%) and Italy (6.4%).

5. New Jersey

The New Jersey market, in third place overall in terms of the value of 2023 imports of the Fashion Products (with 16.7 billion dollars), was characterized in the period 2020-2023 by an overall increase of almost 1.4 billion dollars (CAGR of +2.2%).

In the 2023 ranking of the main partner countries on the market, Italy and China compete for leadership (with shares of 20.2 and 19.9 percent respectively), ahead of France (12.3%).

6. Washington

The market of the State of Washington, in tenth place in terms of value of 2023 imports of the Fashion Products (with 7 billion dollars), was characterized in the period 2020-2023 by good dynamism: CAGR of +6.3%, for an overall increase of more than 1.5 billion dollars.

In the 2023 ranking of the main partner countries on the market, China is the undisputed leader (with a share close to 54 percent), ahead of Vietnam (17.4%).

7. Georgia

The Georgia market, in fifth place in terms of value of 2023 imports of the Fashion Products (with 10.7 billion dollars), was characterized in the period 2020-2023 by an overall increase of almost 1 billion dollars, equal to a CAGR of +2.4%.

China (2023 share of 26.4%) is the main partner country on the market, preceding Vietnam (11%), Bangladesh ( 10.4%) and Italy (8.9%).

19. California

The California market, in second place overall in terms of the value of 2023 imports of the Fashion Products (with 48 billion dollars), is penalized by a declining trend in imports of the sector in the 2020 period -2023: -3.7 billion dollars (equal to a CAGR of -1.9%).

This is a market dominated by sales from China (which highlights a 2023 share of 46.1 percent) and, to a lesser extent by Vietnam (12.9%). Italy, the first EU partner on the market (and second European partner, after Switzerland), is positioned in 9th position (share of 2%).

1) In particular, the United States is the first destination for world exports in 2023 in the following sectors of Fashion Products:

2) Note how the second market for absolute increases in the 2020-2023 imports of Fashion Products (China) stopped at 11 billion euros; the third - Germany - at €10 billion.

3) The index of potential was calculated as the weighted average of the scores associated with the indicators considered, with the following weighting scheme:

  • value of imports 2023: 50%;
  • change in imports in the period 2020-2023 in value: 30%;
  • change in imports in the period 2020-2023 in percentage: 20%.