Vietnam third top apparel supplier for Singapore with 9% share

Vietnamese Minister of Industry and Trade Nguyen Hong Dien met Singaporean Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong on the sidelines of the CPTPP Commission meeting held in the last week of November in Vancouver.

According to Fibre2Fashion’s market insight tool TexPro, Singapore’s apparel imports from Vietnam stood at $147.737 million, out of its total apparel imports of $1,627.837 million in the first nine months of the current year. The imports from Vietnam were 11.47 per cent higher than the inbound shipment of $132.539 million in the same period of the last year.

The country’s apparel imports from Vietnam were valued at $190.110 million in the last year, which was 8.31 per cent of Singapore’s total apparel imports of $2,287.495 million in the same year. China and Italy were larger suppliers with combined share of over 47 per cent in 2023.

As per TexPro, Vietnam was the fourth largest supplier in Singapore’s imports of home textiles. The country’s imports of home textiles totalled $215.235 million in January-September, out of which the imports from Vietnam were valued at $11.149 million. It was 5.18 per cent of the total imports of home textiles. China, the US and Malaysia were larger suppliers.

Singapore had imported home textiles of $294.820 million in 2023, of which Vietnam accounted for $14.836 million or 5.21 per cent.

Fibre2Fashion News Desk (KUL)