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

Textiles | On 20th Jan 2017

TEA expects budget to upscale textile skill industry

The Tiruppur Exporters’ Association (TEA) has requested the Central...

Textiles | On 20th Jan 2017

Bangladesh could earn $60 billion in exports by 2021

Bangladesh is expected to earn over $60 billion in exports by the...

Courtesy: PIB

Textiles | On 20th Jan 2017

Govt to help Tangaliya weavers purchase looms: Irani

Government of India will facilitate Tangaliya weavers in purchase of...

Interviews View All

Claudia Kersten
Global Organic Textile Standard

‘GOTS is a very efficient supply chain management tool, especially for...

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Eric Scholler
Groz-Beckert

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

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Sonam & Paras Modi
SVA

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

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

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
January 2017

January 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search