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Clothing exports to Japan record double-digit growth
01
Dec '09
Clothing exporters in Vietnam have taken full advantage of the markets in Japan, to offset the slowdown in their key markets; US and EU. Exports of garments to Japan have grown to US $778 million, up 15 percent in the first ten months of 2009.

This compares favourably with shipments to the US and the EU, which recorded a negative growth of 4.2 and 3.4 percent respectively in the same period and as per VITAS estimates, shipments from the sector to Japan may touch the $1 billion mark in 2009.

President of VITAS, Mr Le Quoc An, explains by saying, “Retailers in Japan have started shifting focus to other markets like Vietnam, India and Bangladesh, to reduce reliance on the Chinese, who have a market share of a stupendous 75 percent”.

He adds by saying, “This shift in focus and the recently implemented FTA with Japan, which allows clothing exporters to ship garments at zero percent duty to Japan, will help in a surge in exports of textiles and apparels to that country”.

Japan was Vietnam's third largest importer of textiles and garments in 2008, accounting for $820 million, or almost 9 percent, of the country's export turnover in this sector.

Fibre2fashion News Desk - India

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