Vietnam's fabric and garment exports surge 21.7% in Jan'14

22 Feb '14

2 min read

The exports of fabric and garments from Vietnam rose by a sharp 21.7 percent year-on-year to US$ 1.904 billion in January 2014, according to the data released by the General Department of Customs, Vietnam’s Ministry of Finance.

With $954.531 million worth of goods, the US turned out to be the largest importer of fabric and clothing items from Vietnam during the month, followed by Japan and South Korea with imports of $228.408 million and $165.611 million, respectively.

Among the European countries, Germany was the top buyer of fabric and garments from Vietnam with imports valued at $75.856 million. Spain, the UK and the Netherlands were the other large importers of Vietnamese fabric and apparel last year with goods worth $69.202 million, $48.320 million and $24.411 million, respectively.

Vietnam’s fabric and garment exports to Canada were valued at $40.362 million, while those to China and Taiwan were worth $32.6 million and $14.645 million, respectively, during the first month of 2014.

During the month, Vietnam also exported 53,333 tons of yarn worth $157.03 million, of which 20,740 tons of yarn was supplied to China, while Turkey imported 7,240 tons of yarn from the Southeast Asian country, the Customs data showed.

On the import side, Vietnam imported 50,025 tons of cotton valued at $97.394 million during the month under review, registering a fall of 4.5 percent year-on-year and 2.3 percent year-on-year, respectively.

Vietnam imported 20,515 tons of cotton from India, 13,251 tons from the US, 2,293 tons from Brazil and 1,843 tons from Australia in January 2014. The country also imported cotton for its textile industry from Pakistan, Ivory Coast, Taiwan, South Korea, Indonesia, Italy and China.

The Southeast Asian nation imported 52,857 tons of yarn worth $111.354 million in January 2014, showing a decline of 13.3 percent year-on-year and 16.2 percent year-on-year, respectively.

Vietnam’s yarn imports during the period mostly came from the Asian region, with China supplying 18,015 tons, Taiwan 15,705 tons, Thailand 6,783 tons, South Korea 4,461 tons, Indonesia 2,834 tons and India 2,312 tons. Vietnam also imported yarn in small quantities from the Netherlands, Hong Kong, Malaysia, Japan and Pakistan.

During the month, Vietnam’s fabric imports decreased by 6.4 percent year-on-year to $580.546 million, with China accounting for $309.780 million of the same, followed by South Korea, Taiwan and Japan with $111.984 million, $77.23 million and $24.793 million, respectively.

Fibre2fashion News Desk - India

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