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Raw material imports from Korea move upwards

05
Jan '08
The General department of Customs recently released a report according to which, in the first three quarters of 2007, Vietnam exported textile and apparel products worth US $58.8 million to Korea. This represents a climb of 7.6 percent compared to previous year.

However, imports turnover of the same from Korea saw 17 percent growth, totaling to $924.9 million.

This is the highest import of textile and apparel material from this particular market in years. Fabrics turn out to be biggest contributor to this expenditure, which is $581.9 million, with a year–on–year surge of 26 percent.

Other imported products include all types of fibres at $49.7 million and cotton thread with $18.6 million. Import of cotton and yarn witnessed sharp growth in these three quarters.

Experts believe that this sudden rise in the imports of raw material is a result of strong growth in exports of textile and apparel products.

While the supporting industry of Vietnam, especially the ones for textile and apparel sector has a weak capacity in regards to production, leading to strong imports of materials to satisfy local manufacturing units.

Fibre2fashion News Desk - Vietnam


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