Vietnam recently left behind South Korea to turn the world’s sixth largest fibre and yarn exporter after exporting $2.37 billion worth of such items in the first five months this year. The revenue increased by 10 per cent from a year earlier, according to the Vietnam Cotton and Spinning Association (VCOSA). China accounted for nearly 60 per cent of Vietnam’s textile-garment exports.Meanwhile, the country exported textiles, garments, fibre, yarn and fabric worth $18.73 billion during the period—a rise of 20.81 per cent year on year. That includes $14.99 billion in textiles-garments exports (up by 22.2 per cent), $376.8 million in geotextiles (up by 27 per cent) and $979.8 million in materials (up by 19.2 per cent).
The United States and Europe reducing shipments from China has offered Vietnam scope to expand its market share, according to a Vietnamese media report.
Vietnam has left behind South Korea to turn the world's sixth largest fibre and yarn exporter after exporting $2.37 billion worth of such items in the first five months this year. The revenue rose by 10 per cent from a year earlier, according to the Vietnam Cotton and Spinning Association. China accounted for nearly 60 per cent of its textile-garment exports#
Vietnam’s economic integration with the world, especially signing of free trade agreements, also offers enough scope for breakthrough developments in the fibre and yarn segments.
Fibre2Fashion News Desk (DS)