Fabric and garment exports from the Southeast Asian nation increased at 8.4 per cent year-on-year to $3.533 billion during January-February 2017. Of this, the US alone accounted for nearly 50 per cent or $1.717 billion, followed by Japan and South Korea with exports to these countries valued at $437.869 million and $377.181 million, respectively.
Vietnam also exported 180,370 tons of yarn earning $472.967 million during the year, registering an increase of 30.3 per cent and 34.4 per cent year-on-year, respectively, according to the data. Of this, China imported around 55 per cent or $258.354 million, followed by $18.528 million by India.
On the other hand, Vietnam imported 212,335 tons of cotton and 120,199 tons of yarn, valued at $370.622 million and $249.274 million, respectively, during the two-month period under review. Fabric imports during the period were valued at $1.351 billion. Thus, Vietnam’s total spending on import of cotton, yarn and fabric amounted to $1.971 billion, which is nearly half of the value of its exports. (RKS)
ALCHEMPro News Desk – India
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