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Fabric imports rush up
18
Feb '08
Ministry of Industry and Textile (MOIT),Vietnam, has recently released a report which shows that textile and apparel sector has spent US $3.98 billion on fabric for its local production, a rise of 33.6 percent in 2007.

Fabric imported from China accounted for 34.1 percent of the total import turnover. It has come up as the biggest supplier to Vietnam because of competitive prices. In 2007, imports from China reached $1.35 billion, a boost of 51.8 percent compared to 2006.

Import figures from Korea show, an expenditure of $817.6 million, up by 31.7 percent, making it the second largest fabric supplier. Taiwan occupied third place with $730.3 million worth of fabric to Vietnam, augmenting by 18.2 percent.

Other countries which were benefitted from strong import growth of Vietnam in 2007 are France up by 92.1 percent, Turkey at 157.4 percent, Latvia with 933 percent and Sweden at 218.4 percent.

Further the MOIT statistic show that import prices of fibre has increased to 10 percent in 2007 in comparison to 2006. The price was quoted at $1,751 per ton on an average.

Countries like Thailand, Taiwan, Korea and China supplied fibre to the Vietnamese textile and apparel industry in 2007.

The price on which Thailand supplied fibre was $1,563 per ton, an increase of 7.6 percent, from Taiwan it was $1,587 per ton, up by 8.9 percent. Korea and China had highest level of prices at $2,352 and $2,167 pet ton respectively, rising by 25 percent.

According to the experts from the MOIT, there will be a slight decline of prices in future, as the world market price for crude materials and synthetic fibres is experiencing a dropping trend.

Fibre2fashion News Desk - Vietnam

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