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Vietnam's fabric & garment exports up 4.6% in Jan-Nov

19
Dec '16

Fabric and garment exports from the Southeast Asian nation of Vietnam increased at 4.6 per cent year-on-year to $21.561 billion in the first eleven months of 2016, according to the preliminary data released by the customs IT & statistics department, general department of customs, Vietnam’s ministry of finance.

Destination-wise, the US alone accounted for almost 50 per cent or $10.330 billion worth of fabric and apparel exported from Vietnam during January-November 2016, followed by Japan and South Korea with exports to these countries valued at $2.622 billion and $2.121 billion, respectively.

Vietnam also exported 1,060,335 tons of yarn earning $2.657 billion during the eleven-month period, registering an increase of 21 per cent and 14.3 per cent year-on-year, respectively, according to the data. Thus, Vietnam’s total earnings from yarn, fabric and garment exports stood at $24.218 billion during the period under review.

On the other hand, Vietnam imported 618,454 tons of cotton and 372,035 tons of yarn, valued at $993.350 million and $911.507 million, respectively, during January-October 2016. Fabric imports during the ten-month period were valued at $5.275 billion. Thus, Vietnam’s total spending on import of cotton, yarn and fabric amounted to $7.179 billion. (RKS)

Fibre2Fashion News Desk – India

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