Home / Knowledge / News / Textiles / Handicraft exports likely to cross $1 billion
Handicraft exports likely to cross $1 billion
26
Oct '09
Irrespective of the economic slowdown, handicraft exports of Vietnam would go beyond $1 billion in the year 2010, hoped experts, as it has recently increased by 20 percent per year. This makes handicraft products to be one of the top 10 items with the highest export growth rates.

In the year 2008, when global economic crisis struck for the first time, handicraft exports of the country reached to $1 billion in terms of value, and now, when the world economy is experiencing gradual recovery, demand for handicraft products is going up, so the export value of handicrafts would probably go beyond $1 billion, expected the expert.

Including the markets such as the US, Russia, Japan, South Korea and Taiwan, handicraft products of the country are now accessible in 163 world markets. In addition, Vietnam is in talks with the EU for a free trade agreement to have an easy access in the EU markets.

Investments in handicraft production are advantageous though exports of these products are unable to bring much revenue compared to footwear or clothing exports, said experts. For producing Vietnamese handicrafts, mainly the domestically sourced materials are being used.

As per estimates, value of the materials, needed to import for the handicraft manufacturing sector is 3-3.5 percent of its export value, while in the case of garment products it is above 20 percent.

Around 1,400 craft villages are spread out across the country offering about 70,000 job opportunities for the local people and producing almost, 300 varieties of products made of bamboo, pottery, precious stones etc.

Spontaneous and independent development of the villages and production workshops are troublesome factors for craft villages which restricted a number of handicraft producers, from accessing updated technology and expand their business, said the expert.

Apart from this, involvement of third parties in the exports of Vietnamese handicrafts is another major issue, rather than these exporters directly dealing with the importers.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 19th Jan 2017

Pakistan imposes duty on Indian fine cotton yarn

A provisional countervailing duty ranging from Rs 26.89 to Rs 55.8 a...

Textiles | On 19th Jan 2017

Union Budget: Textile sector expects excise duty revisions

Excise duty on man-made fibres should be reduced to bring it on par...

Union textiles minister Smriti Irani at the inauguration of IIGF in New Delhi with textiles secretary Rashmi Verma and other dignitaries. Courtesy: PIB

Apparel/Garments | On 19th Jan 2017

Ministry to reimburse apparel exporters for state levies

The textile ministry has received a sum of Rs 500 crore from the...

Interviews View All

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Johan Berlin
InvestKonsult Sweden AB

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

Lynda Kelly
Suominen Corporation

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

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
January 2017

January 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search