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Vietnam's textile & garment exports earn $4bn in Jan-Feb

30 Mar '17
2 min read

Vietnam earned $4.006 billion from textile and garment exports in the first two months of 2017. Of this, yarn exports accounted for $472.967 million and fabric and garment exports contributed the remaining $3.533 billion, 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 the Southeast Asian nation increased at 8.4 per cent year-on-year to $3.533 billion during January-February 2017. Of this, the US alone accounted for nearly 50 per cent or $1.717 billion, followed by Japan and South Korea with exports to these countries valued at $437.869 million and $377.181 million, respectively.

Vietnam also exported 180,370 tons of yarn earning $472.967 million during the year, registering an increase of 30.3 per cent and 34.4 per cent year-on-year, respectively, according to the data. Of this, China imported around 55 per cent or $258.354 million, followed by $18.528 million by India.

On the other hand, Vietnam imported 212,335 tons of cotton and 120,199 tons of yarn, valued at $370.622 million and $249.274 million, respectively, during the two-month period under review. Fabric imports during the period were valued at $1.351 billion. Thus, Vietnam’s total spending on import of cotton, yarn and fabric amounted to $1.971 billion, which is nearly half of the value of its exports. (RKS)

Fibre2Fashion News Desk – India

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