Vietnam textile & garment exports earn $8.1 bn in Jan-Mar

Fabric and garment exports from the Southeast Asian nation increased at 10.6 per cent year-on-year to $7.126 billion during January-March 2019. Of this, the US alone accounted for nearly half or $3.325 billion, followed by Japan and South Korea with exports to these countries valued at $897.585 million and $760.322 million, respectively.

Vietnam also exported 384,704 tons of yarn, registering a growth of 13.8 per cent year-on-year by volume, according to the data. This was valued at $990.845 million, up 7.9 per cent. Of this, China imported around 56 per cent or $562.059 million, followed by $32.127 million by India.

On the other hand, Vietnam imported 379,801 tons of cotton and 249,718 tons of yarn, valued at $710.616 million and $564.892 million, respectively, during the three-month period under review. Fabric imports during the period were valued at $2.872 billion. Thus, Vietnam’s total spending on import of cotton, yarn and fabric amounted to $4.147 billion, half of total exports.

In 2018, Vietnam earned $34.513 billion from textile and garment exports. Of this, yarn exports accounted for $4.025 billion while fabric and garment exports contributed the remaining $30.488 billion.

For the current year, Vietnam expects to earn $40 billion in textile and apparel exports. (PC)

Fibre2Fashion News Desk – India