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Raw material import soars high

10
Apr '08
Although the textile industry is trying hard to slash its dependency on imports and boost the local production, lack of raw material is impelling the sector to rely on imports only.

This is quite evident from the statistical reports released by Ministry of Industry and Trade (MOIT). The data for the first two months show that the textile and apparel industry imported huge amount of cotton, fibre and fabrics for the manufacturing of garments.

In this regard, India has come up as the biggest supplier of cotton totaling to 17,097 tons for US$ 25.04 million. In the similar line, Vietnam imported 14,389 tons of cotton worth $20.6 million from US.

At the same time, during these two months, the nation imported 68,618 tons fibre worth $128.41 million registering a year-on–year rise of 8.2 percent.

Key suppliers of fibre include Hong Kong shipping products worth $48.66 million, Taiwan at $54.12 million and Thailand totaled to $17.3 million.

The country not only depends of cotton and fibre to be supplied from the different countries but has to import fabrics as well, to meet the need of local production. In the period of January and February, Vietnam expended over $516 million for importing fabric for local production.

In this period China emerged as one of the largest fabric supplier of Vietnam, with shipments of worth $158.67 million.

Stood behind China, Korean and Taiwanese suppliers transported fabrics worth $116.74 and $96.57 million respectively during January and February.

For further statistics click here

Fibre2fashion News Desk - Vietnam


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