Home / Knowledge / News / Apparel/Garments / Garment producers looking to improve localization ratio
Garment producers looking to improve localization ratio
Dec '09
Vietnam has exported $8.2 billion worth of garment products till the end of November. Total garment exports for the current year are expected to reach US $9.1 billion, same as previous year, said Mr. Le Tien Truong, Deputy General Director of the Vietnam Textile and Garment Group (Vinatex). The Deputy Minister of Industry and Trade, Mr. Bui Xuan Khu had earlier estimated that this year garment exports would bring in $9.2 billion.

This year, the export prices were lower than the prices in 2008. In the first 11 months of 2009, prices of garment products, shipped to the US, witnessed 18 percent fall. So, the export revenue generated from garment items plunged down by 40 percent though the export quantity increased by 13-14 percent. This year, the country recorded highest localization ratio of garment products i.e. of 42-43 percent, which was 37 percent in 2008.

Vietnam imported $4.7 billion worth of materials and exported $8.2 billion worth of garment items during first 11 months of 2009. Garment exports to Japan increased by 16 to 17 percent. This improvement in exports has pleased the garment producers, who have been able to enjoy tax preferences under the Vietnam - Japan Economic Partnership Agreement (VJEPA) along with which they also have a high localization ratio of raw materials.

Mr. Truong underlined that the country has been paying special attention to the three programs on fabric, cotton, and training development as increasing domestic inputs in garment products is always the key issue in the garment development plan.

Country increased the area under cotton crop by 8,000 hectares in the year 2009 and the cotton crop has been witnessing price hike in global market. This offered profit to the cotton growers who are selling cotton between 29,000 and 32,000 Vietnam Dong per kilo.

Fibre2fashion News Desk - India

Must ReadView All

Courtesy: Connor Group

Textiles | On 21st Jun 2018

Protectionism top threat to textile sourcing: William Connor

Protectionism is the biggest political factor and threat affecting...

Courtesy: Tintex

Textiles | On 21st Jun 2018

'Price ratio is key factor for knitted fabrics market'

The price ratio is a key factor for the global knitted fabrics market ...

Leisure sneakers lead US footwear sales: The NPD Group

Apparel/Garments | On 21st Jun 2018

Leisure sneakers lead US footwear sales: The NPD Group

Leisure sneakers dominated US footwear sales between May 2017 and...

Interviews View All

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Rashi Menda

Every fifth sale we make on Zapyle is a repeat purchase

Abhishek Samdaria

GST will certainly reduce a lot of paperwork in future

Urmil Arya

Sushila International, a well established textile organisation established ...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Steve Cole
Xerium Technologies

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

Ritu Kumar
Label Ritu Kumar

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

Divvya and Nidhhi Gambhir

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Robert Brunner

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

June 2018

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

news category

Related Categories:

Advanced Search