Home / Knowledge / News / Apparel/Garments / Vietnam's textile exports increase by 6 %
Vietnam's textile exports increase by 6 %
Jul '16
At $ 12.8 billion, Vietnam's textile and garment exports increased by 6% in the first half of 2016, but exporters are apprehensive that they might not be able to achieve the targeted $ 31 billion earnings for the year in the wake of Brexit and a near 30 % fall in fresh orders.

According to the Ministry of Industry and Trade, exports to US went up by 5.9 % clocking $4.29 billion; while those to Japan saw an increase of 2.9 % to register $1.04 billion; and exports to South Korea were 15.58 % higher at $764.9 million.

Yet the mood among exporters is not upbeat. According to one exporter Tran Van Khang, there has been a lack of orders since the beginning of the year, triggering stiff competition among domestic manufacturers for customers.

His firm saw a 30% drop in the number of orders in the first five months of 2016, which he attributed to overstocking and falling demand in import markets.

Also, export prices have plunged by 10-15 %, while he still has to pay wages, insurance and transportation costs, which are on the rise.

Another official of Ho Guom Garment SJC, said his company's overseas orders fell significantly in March and April, and had begun to look up only in June.

They cited Brexit and preferential trade regimes of US and EU with rivals such as Myanmar, Laos and Cambodia as reasons for foreign clients to turn towards countries with reduced import duties and more tariff advantages.

Also, the much publicised Trans-Pacific Partnership (TPP) and Vietnam-EU Free Trade Agreement, from which Vietnam exporters can benefit, have not yet come into effect.

Meanwhile, the Ministry of Industry and Trade has proposed the development of large textile and garment industrial zones (IZs) to attract FDI in dyeing, and fabric and yarn production for making for high-end products. (SH)

Fibre2Fashion News Desk – India

Must ReadView All

Courtesy: Myntra

Apparel/Garments | On 3rd Dec 2016

Myntra to be EBITA positive by FY18: CEO Narayanan

Myntra is on track to achieve sustainable growth and be EBITA...

Courtesy: India ITME Society

Textiles | On 3rd Dec 2016

India ITME 2016 opens with over 1050 exhibitors

The India International Textile Machinery Exhibition (India ITME)...

Courtesy: Bruckner

Textiles | On 3rd Dec 2016

Indian textile companies opt for Brückner stenter lines

Indian textile firms Laxmipati Sarees, makers of polyester sarees and ...

Interviews View All

Angelina Francesca Cheang

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Victor Chao

‘In future, clothing boundary lines will become increasingly blurred.’

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

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

December 2016

December 2016

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


Browse Our Archives


Advanced Search