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Vietnam's fabric & garment exports jump in Jan-July'14
19
Aug '14
The exports of fabric and apparel from Vietnam jumped by 19.5 percent year-on-year in the first seven months of 2014, according to the preliminary data released by the Customs IT & Statistics Department, General Department of Customs, Vietnam’s Ministry of Finance.
 
Fabric and garment exports from Vietnam totaled US$ 11.498 billion in the January-July 2014, growing at 19.5 percent year-on-year. 
 
During the seven-month period, Vietnam exported 471,992 tons of yarn fetching $1.42 billion, registering an increase of 20.9 percent and 21 percent year-on-year, respectively, according to the data.
 
The US alone imported $5.56 billion worth of fabric and apparel from Vietnam during the period under review. Japan and South Korea were the other main destinations for Vietnamese fabric and clothing with exports valued at $1.41 billion and $921.7 million, respectively.
 
Meanwhile, Vietnam’s cotton imports soared by 32 percent year-on-year to 448,351 tons in terms of quantity, and by 33.3 percent to $899.157 million in terms of value.
 
Similarly, Vietnam’s yarn imports grew by 8.3 percent year-on-year and 2.4 percent by volume and value, respectively, to 425,749 tons and $891.221 million. Fabric imports also climbed 15.5 percent to $5.42 billion.
 
At $2.657 billion, China was the largest supplier of fabric to Vietnam during the period under discussion. 
 
Last year, Vietnam’s fabric and garment exports grew by 18.9 percent year-on-year to $17.946 billion, and if the current trend continues, the country’s fabric and garment exports may touch the $20 billion mark this year.
 

Fibre2fashion News Desk - India

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