Home / Knowledge / News / Apparel/Garments / Vietnam garment exports rise 18% in Jan-Sept'13
Vietnam garment exports rise 18% in Jan-Sept'13
12
Oct '13
The exports of garments and textiles from Vietnam increased by 18 percent year-on-year in the first nine months of the current year to US$ 13.154 billion, according to data from the Ministry of Industry and Trade.
 
Of this, the exports of fabric were worth US$ 538 million, up 6.3 percent year-on-year.
 
The US continued to be the largest importer of Vietnamese apparel and it accounted for 49 percent of all Vietnamese garment and textile exports from January to September this year.
 
The EU, Japan and South Korea were the other leading importers of Vietnamese apparel and textiles, and these nations accounted for 15 percent, 12 percent and 9 percent respectively, of all Vietnamese clothing and textile export revenue during the nine-month period.
 
Vietnamese garment businesses depend heavily on import of raw materials as domestic cotton meets only 1-2 percent of demand. Similarly, local fabric production is able to meet only about 12-13 percent of the garment sector’s demand, according to Vietnam National Textile and Garment Group (VINATEX).
 
This will affect Vietnamese exporters once the Trans-Pacific Partnership (TPP) Agreement is signed as Vietnamese textile and garment businesses would have to use raw materials made in one of the TPP signatory countries to avail the benefit of TPP tax preferences.
 
Meanwhile, the 12 countries negotiating the TPP—Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, United States, and Vietnam—have announce that they are on track to complete the TPP negotiations. 
 
“We see the Trans-Pacific Partnership, with its high ambition and pioneering standards for new trade disciplines, as a model for future trade agreements and a promising pathway to our APEC goal of building a Free Trade Area of the Asia Pacific,” the leaders of the 12 countries said in a statement.
 
“As we work to conclude these negotiations, we will further intensify consultations with stakeholders to craft a final agreement that appropriately addresses the interests of our citizens,” they said.
 
Vietnam has set garment and textile export target of around US$ 19 billion this year, compared to exports worth US$ 17.2 billion made during 2012.
 

Fibre2fashion News Desk - India


Must ReadView All

Pic: Shutterstock

Textiles | On 6th Mar 2021

USTR releases 2021 President’s Trade Agenda, 2020 Annual Report

The Office of the United States Trade Representative recently...

Pic: Jilsander

Fashion | On 6th Mar 2021

Italy's OTB acquires Jil Sander brand from Onward Holdings

Japan's Onward Holdings has announced selling its loss-making Jil...

Pic: Shutterstock

Apparel/Garments | On 6th Mar 2021

Garment industry coalition calls for democracy restoration in Myanmar

A coalition of nine EU and US initiatives linked to the garment,...

Interviews View All

Top executives, Textile industry

Top executives
Textile industry

Overall, Union budget 2018-19 is very balanced

Textile Industry, Head honchos

Textile Industry
Head honchos

Wearables have very limited reach

Textile Industry, Head honchos

Textile Industry
Head honchos

There's lot more potential in women than what we are witnessing today

Anurag Mohota,

Anurag Mohota

Located in the heart of cotton growing belt of India, Gimatex is a...

Ritu Oberoi,

Ritu Oberoi

Established in 2018, Forsarees is a socially driven business enterprise,...

Gus Bartholomew,

Gus Bartholomew

<b>Gus Bartholomew</b>, co-founder of SupplyCompass, explains to <b>Subir...

Ian Russell, Pireta

Ian Russell
Pireta

UK-based Pireta has developed a unique free-form process to add durable,...

Jacques Prigneaux, EDANA

Jacques Prigneaux
EDANA

EDANA has been the leading global association and voice of the nonwovens...

Pranesh Sridharan & Berndt Koll, Lenzing

Pranesh Sridharan & Berndt Koll
Lenzing

The Lenzing Group produces Lenzing Lyocell and Modal cellulosic fibres of...

Adriano Goldschmied, AG Jeans

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

Sonam & Paras Modi, SVA

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Nisha Chanda, Whistling Woods International School of Fashion

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

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

Leave your Comments


March 2021

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


Advanced Search