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Vietnam's textile and garment exports jump in H1 2014
18
Jul '14
The exports of textile and apparel from Vietnam jumped by nearly 20 percent year-on-year in the first six months of 2014, according to the preliminary data released by the Customs IT & Statistics Department, General Department of Customs, Vietnam’s Ministry of Finance.
 
Vietnam’s textile and garment exports from Vietnam totaled US$ 10.561 billion in the first six months of 2014. Of this, yarn exports contributed $1.177 billion, while fabric and clothing exports accounted for the remaining $9.384 billion, according to the data.
 
With goods worth $4.59 billion, the United States was the largest importer of Vietnamese textiles and apparel during January-June 2014 period. Japan and South Korea were the other main destinations for Vietnamese textiles and clothing with exports valued at $1.19 billion and $837.325 million, respectively.
 
Meanwhile, Vietnam’s textile imports during the six-month period were valued at $6.149 billion. Of this, cotton imports soared by 36.4 percent year-on-year to 398,288 tons in terms of quantity, and by 38.3 percent to $797.034 million in terms of value.
 
Similarly, Vietnam’s yarn imports grew by 11.4 percent year-on-year and 4.2 percent by volume and value, respectively, to 363,703 tons and $758.965 million. Fabric imports also climbed 16.9 percent to $4.593 billion.
 
With $2.526 billion worth of goods, China was the largest supplier of textiles to Vietnam during the first half of this year. The goods included fabrics valued at $2.251 billion, $270.503 million of yarn, and $4.885 million of cotton.
 
If the current trend continues, Vietnam’s textile and garment exports are likely to cross the $20 billion mark this year.
 

Fibre2fashion News Desk - India

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