Fabric and garment exports from the Southeast Asian nation increased at 9.6 per cent year-on-year to $24.613 billion during January-September 2019. Of this, the US alone accounted for nearly half or $11.207 billion, followed by Japan and South Korea with exports to these countries valued at $2.910 billion and $2.599 billion, respectively.
Vietnam also exported 1,239,296 tons of yarn, registering a growth of 13.3 per cent year-on-year by volume, according to the data. This was valued at $3.088 billion, up 3.1 per cent. Of this, China imported around 57 per cent or $1.778 billion, followed by $100.421 million by India.
On the other hand, Vietnam imported 1,139,993 tons of cotton and 816,747 tons of yarn, valued at $2.070 billion and $1.819 billion, respectively, during the nine-month period under review. Fabric imports during the period were valued at $9.734 billion. Thus, Vietnam’s total spending on import of cotton, yarn and fabric amounted to $13.623 billion, which is nearly half of the country's 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.
ALCHEMPro News Desk (PC)
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