Exports of fabric and apparel from Vietnam surged by 19.4 per cent year-on-year in the first eight months of 2014. During January to August 2014, Vietnam exported 5,49,872 tons of yarn fetching 1.655 billion dollars, registering an increase of 20.3 per cent and 20.5 per cent year-on-year.
The US alone imported 6.497 billion dollars worth of fabric and apparel from Vietnam during the period under review. Japan and South Korea were the other main destinations for Vietnamese fabric and clothing with exports valued at 1.682 billion dollars and 1.216 billion dollars respectively.
Meanwhile, Vietnam’s cotton imports soared by 26.3 per cent year-on-year to 488,066 tons in terms of quantity, and by 26.9 per cent to 976.668 million dollars in terms of value.
Similarly, Vietnam’s yarn imports grew by 7.1 per cent year-on-year and 2.1 per cent by volume and value respectively. Fabric imports also climbed 14.3 per cent.
With 3.008 billion dollars worth of goods, China was the largest supplier of fabric to Vietnam during the period under discussion.
Last year, Vietnam’s fabric and garment exports grew by 18.9 per cent year-on-year to 17.946 billion dollars and the country’s fabric and garment exports are expected to touch the 20 billion dollar mark this year.