Textiles and apparel is among the important sectors in their bilateral trade. Although its share is very low, Vietnam is the third largest supplier for New Zealand’s apparel imports. With both countries now looking to increase their bilateral trade, Vietnam can raise its share in apparel imports by New Zealand.

According to Fibre2Fashion's market insight tool TexPro, New Zealand imported apparel worth $23.286 million from Vietnam during the first quarter of current year. It was 6.97 per cent of New Zealand’s total apparel imports of $334.301 million in the same period. Vietnam was the third largest supplier after China and Bangladesh. 

Last year, New Zealand had imported apparel of $70.163 million from Vietnam, when its total apparel imports were noted at $1,184.345 million. Vietnam remained the third largest supplier with a share of 5.92 per cent after China and Bangladesh. 

Latest trade data suggests that New Zealand’s apparel imports from Vietnam have noticed consistent growth since 2021. The shipment increased 36.47 per cent to $53.259 million in 2021. It further gained 27.37 per cent to $67.891 million in 2022 and 3.35 per cent to $70.163 million.

New Zealand is mainly a consumer in the context of textile products. Despite being the sixth largest supplier, Vietnam has a very low share in New Zealand’s home textiles imports.

New Zealand’s imports of home textiles amounted to $81.327 million in January-March 2024. Its imports from Vietnam were valued at $1.702 million which was 2.09 per cent of the total.

Last year, the imports totalled $295.599 million, out of which the inbound shipment from Vietnam was $5.796 million which was less than two per cent, as per TexPro.

Fibre2Fashion News Desk (KUL)