Interviews
Second biggest apparel importer country throws up opportunities
25 Aug '09
2 min read
Exports from the textiles and apparel sector in the first seven months of 2009 touched, US $5.1 billion, just one percent less than that reached in the corresponding period of 2008.
These figures have come in no less measure from shipments from the sector to Japan, with which Vietnam has signed a Free Trade Agreement, which entails exports of goods at zero percent duty.
Experts are of the opinion that the Japanese high end market holds promise for Vietnamese apparel sector and they should try to take advantage and seize the opportunities thrown up by the market.
In the first six months of the year, export turnover of Vietnamese garments to Japan stood at $430 million, an increase of 22 per cent over the same period last year. Experts say that this figure can reach $900-$1,000 million by year end.
Japan is the world' second largest market for clothing. The total value of men's, women's and children's clothing imported each year is about $28 billion per year, accounting for 60 per cent of its total market value.
In Japan, the space for lower-end market for apparels is occupied by Chinese products and the Chinese textiles and garment sector accounts for 80 percent of Japanese imports from the sector.
According to a well-known fashion designer, apparels from Vietnam have not been able to compete with garments of Chinese origin, but, there was a vacant space in the high end market, which manufacturers from Vietnam can fill.
Most Japanese retailers tend to place orders in small quantities rather than in large numbers, like their European and US counterparts, which becomes easier for a exporter to process an order in time.
These figures have come in no less measure from shipments from the sector to Japan, with which Vietnam has signed a Free Trade Agreement, which entails exports of goods at zero percent duty.
Experts are of the opinion that the Japanese high end market holds promise for Vietnamese apparel sector and they should try to take advantage and seize the opportunities thrown up by the market.
In the first six months of the year, export turnover of Vietnamese garments to Japan stood at $430 million, an increase of 22 per cent over the same period last year. Experts say that this figure can reach $900-$1,000 million by year end.
Japan is the world' second largest market for clothing. The total value of men's, women's and children's clothing imported each year is about $28 billion per year, accounting for 60 per cent of its total market value.
In Japan, the space for lower-end market for apparels is occupied by Chinese products and the Chinese textiles and garment sector accounts for 80 percent of Japanese imports from the sector.
According to a well-known fashion designer, apparels from Vietnam have not been able to compete with garments of Chinese origin, but, there was a vacant space in the high end market, which manufacturers from Vietnam can fill.
Most Japanese retailers tend to place orders in small quantities rather than in large numbers, like their European and US counterparts, which becomes easier for a exporter to process an order in time.
Fibre2fashion News Desk - India
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