Vietnam : US will continue to be top importer of Vietnamese garments

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US will continue to be top importer of Vietnamese garments

28
Jan '13

The United States will continue to be the top importer of Vietnamese garments and textiles in 2013, according to the Vietnam Textile and Apparel Association (Vitas).

In 2012, Vietnam’s apparel and textile exports to the US grew by 8 percent year-on-year to US$ 7.8 billion, according to official figures.

While the Vitas has forecasted a three percent year-on-year growth in Vietnamese textile and clothing exports to the US in 2013, the American Chamber of Commerce in Vietnam (AmCham) expects the exports to grow to US$ 8.4 billion in 2013, US$ 9.1 billion in 2014 and US$ $9.7 billion in 2015.

Vitas expects Japan to overtake the EU as the second largest importer of Vietnamese garments and textiles in 2013, with an estimated exports worth US$ 2.37 billion, which would be an increase of 18 percent year-on-year.

Vietnam’s apparel and textile exports to the EU in 2013 are expected to remain at last year’s level.

South Korea would be the fourth biggest market for Vietnamese clothing and textiles in 2013, according to Vitas.

Vietnam’s garment and textile exports to other markets, excluding the US, Japan and the EU, are likely to rise by five percent year-on-year this year.

Most Vietnamese apparel and textile manufacturing companies have already received orders to last for the first quarter of this year and some large companies have also bagged orders for the second and third quarters of 2013, Vitas said.

Fibre2fashion News Desk - India

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