Home / Knowledge / News / Apparel/Garments / Vietnam garment exports rise 18% in Jan-Sept'13
Vietnam garment exports rise 18% in Jan-Sept'13
12
Oct '13
The exports of garments and textiles from Vietnam increased by 18 percent year-on-year in the first nine months of the current year to US$ 13.154 billion, according to data from the Ministry of Industry and Trade.
 
Of this, the exports of fabric were worth US$ 538 million, up 6.3 percent year-on-year.
 
The US continued to be the largest importer of Vietnamese apparel and it accounted for 49 percent of all Vietnamese garment and textile exports from January to September this year.
 
The EU, Japan and South Korea were the other leading importers of Vietnamese apparel and textiles, and these nations accounted for 15 percent, 12 percent and 9 percent respectively, of all Vietnamese clothing and textile export revenue during the nine-month period.
 
Vietnamese garment businesses depend heavily on import of raw materials as domestic cotton meets only 1-2 percent of demand. Similarly, local fabric production is able to meet only about 12-13 percent of the garment sector’s demand, according to Vietnam National Textile and Garment Group (VINATEX).
 
This will affect Vietnamese exporters once the Trans-Pacific Partnership (TPP) Agreement is signed as Vietnamese textile and garment businesses would have to use raw materials made in one of the TPP signatory countries to avail the benefit of TPP tax preferences.
 
Meanwhile, the 12 countries negotiating the TPP—Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, United States, and Vietnam—have announce that they are on track to complete the TPP negotiations. 
 
“We see the Trans-Pacific Partnership, with its high ambition and pioneering standards for new trade disciplines, as a model for future trade agreements and a promising pathway to our APEC goal of building a Free Trade Area of the Asia Pacific,” the leaders of the 12 countries said in a statement.
 
“As we work to conclude these negotiations, we will further intensify consultations with stakeholders to craft a final agreement that appropriately addresses the interests of our citizens,” they said.
 
Vietnam has set garment and textile export target of around US$ 19 billion this year, compared to exports worth US$ 17.2 billion made during 2012.
 

Fibre2fashion News Desk - India

Must ReadView All

Courtesy: Christian Dior

Fashion | On 25th Apr 2017

LVMH to acquire Christian Dior Couture for €6.5bn

LVMH and Christian Dior, which holds directly and indirectly 41 per...

Apparel/Garments | On 25th Apr 2017

Walmart's Project Gigaton to help reduce emissions

Walmart has launched a sustainability platform called Project Gigaton ...

Courtesy: Arvind

Fashion | On 25th Apr 2017

The Arvind Store launches ready-to-wear brand for men

The Arvind Store has announced the launch of its own ready-to-wear...

Interviews View All

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
April 2017

April 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search