ABSTRACT
This paper explores recent trends in U.S. cotton textile manufactures trade. The share of the total U.S. import market held by traditional Asian suppliers is declining while the share of cotton imports from the Western Hemisphere has ballooned since 1982. The bilateral agreements under the Multifiber Arrangement (MFA) that the United States has with its suppliers has fueled this change in trade patterns. Furthermore, the share of total U.S. exports that goes to Western Hemisphere countries and new markets have risen dramatically while the share to more traditional European markets has plummeted. Exchange rates are probably the most significant factor in explaining the changes in U.S. cotton textile export patterns. These cotton textile trade trends are expected to continue into 1993.
|