Feedback Here

fbook  tweeter  linkin YouTube
Global contents also translated in Chinese

Pakistan losing share to Vietnam

Pakistan is fast losing its cotton spun yarn markets to the much cheaper Vietnam. Cotton spinning in Vietnam has more than tripled in the last four years. Vietnam’s net yarn exports increased at an annual rate of over 40 per cent between 2011 and 2016. This growth is paralleled by the large rise in China’s investment in spinning in Vietnam alongside wholesale relocations of some firms.

Pakistan’s cotton yarn exports, on the other hand, have been on the decline for the last couple of years owing to surging cost of production on account of sharp spikes in energy prices and shortages. Yarn shipments tumbled by almost one-third in the first half of the ongoing fiscal year to December as overall textile and clothing exports plunged by about nine per cent from a year ago in spite of EU trade concessions.

Vietnam is not only eating into Pakistan’s market share of cotton spun yarn. It is also capturing the world clothing market at a fast pace because of its lower cost of production and is likely to become the most favorite destination of major American and European stores once the trans pacific pact and the free trade agreement with EU go into operation.

 

 
LATEST TOP NEWS
 


 
MOST POPULAR NEWS
VF Logo