Vietnam's textile & garment exports earn $9.7bn in Jan-Apr

Fabric and garment exports from the Southeast Asian nation increased at 14.5 per cent year-on-year to $8.532 billion during January-April 2018. Of this, the US alone accounted for nearly half or $4.064 billion, followed by Japan and South Korea with exports to these countries valued at $1.112 billion and $916.811 million, respectively.

Vietnam also exported 451,052 tons of yarn, registering a growth of 12.3 per cent year-on-year by volume, according to the data. This was valued at $1.226 billion, up 14.9 per cent. Of this, China imported around 52 per cent or $646.035 million, followed by $45.802 million by India.

On the other hand, Vietnam imported 531,988 tons of cotton and 308,603 tons of yarn, valued at $972.636 million and $704.123 million, respectively, during the four-month period under review. Fabric imports during the period were valued at $3.763 billion. Thus, Vietnam’s total spending on import of cotton, yarn and fabric amounted to $5.439 billion, which is more than half of the value of its exports.

In 2017, Vietnam earned $29.631 billion from textile and garment exports. Of this, yarn exports accounted for $3.593 billion while fabric and garment exports contributed the remaining $26.038 billion.

For the current year, Vietnam expects to earn $33 billion in textile and apparel exports. (RKS)

Fibre2Fashion News Desk – India