Home / Knowledge / News / Apparel/Garments / Vietnam's apparel exports post 18.7% growth in Jan-Oct'13
Vietnam's apparel exports post 18.7% growth in Jan-Oct'13
20
Nov '13
The exports of garments and textiles from Vietnam have increased by 18.7 percent year-on-year to US$ 14.8 billion during the first ten months of the current year, according to the data released by the Ministry of Industry and Trade.
 
From January to October 2013, Vietnam’s apparel and textile exports to South Korea, Japan and the United States recorded a strong growth.
 
Canada, Brazil and Mexico were also among the countries that imported more clothing and textiles from Vietnam during the ten-month period.
 
In October 2013, Vietnam’s clothing and textiles exports grew by 30 percent year-on-year to US$ 1.75 billion.
 
If the current trend continues, industry analysts expect Vietnamese garment and textiles exports to touch US$ 19 billion this year, compared to last year’s exports of US$ 17.2 billion.
 
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).
 
China is the largest supplier of raw materials to Vietnam, which annually imports US$ 7.5 million worth of cotton, US$ 350 million of yarn and nearly US$ 3 billion of fabric from China.
 
The Vietnamese garment companies are anticipating a boost in their exports, especially to the US market, once the Trans-Pacific Partnership (TPP) is successfully negotiated and implemented.
 
Last month, the 12 countries negotiating the TPP—Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, United States, and Vietnam—announce that they are on track to complete the TPP negotiations by the end of this year.
 
Key experts and chief negotiators of the 12 countries are currently meeting in Salt Lake City, the capital of the U.S. state of Utah, and are scheduled to carryout negotiations until November 24.
 

Fibre2fashion News Desk - India


Must ReadView All

Apparel/Garments | On 25th Jun 2017

Half of 7,000 new apparel online each day target women

Adobe has released its first Digital Price Index for apparels,...

Textiles | On 25th Jun 2017

First Insight, Chico's FAS enter partnership

First Insight, a technology company transforming how retailers make...

Apparel/Garments | On 25th Jun 2017

Expand changing use of social and web resources

With over 400 million impressions to date and web traffic of over two ...

Interviews View All

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Deepak Jain
Baggout

We are using Facebook and Instagram to promote ourselves

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Kevin Nelson
TissueGen

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

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Mike Hoffman
Gildan Activewear SRL

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

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

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

news category


Related Categories:
June 2017

June 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