According to preliminary data General Administration of Customs, Ministry of Finance of Vietnam, exporting textile and garment products of Vietnam has increased 18% over the last year to 7.505 billion in the first five months of 2014.
The United States is imported fabrics and garments of Vietnam's largest with a value of 3.685 billion in the first five months of 2014, Japan and South Korea are the other main market of imported fabrics and garments Vietnam's worth $ 965.373 million, respectively, and 623.887 million.
In the first 5 months of the year, Vietnam exported 316,188 tons of yarn worth 962.976 million, showing an increase of 18% in volume and 19.6% in value compared to the same period last year. In particular, China accounted for 136,571 tons of yarn worth 447.730 million.
Turkey imported 40,374 tonnes of yarn from Vietnam with a value of 96.273 million in the first 5 months of the year, followed by South Korea with 26,927 tonnes worth USD 78.716 million.
Meanwhile, Vietnam's cotton imports increased by 33.2% compared to the same period last year to 333,075 tonnes in the first 5 months of 2014, with a value of 659.713 million, up 34.6% compared to the same period last year.
Similarly, imports from Vietnam fiber volume increased 9.2% and 2.2% in value compared to the same period last year, corresponding to 293 324 tonnes and 615.82 million. Fabric imports also increased by 15.7% to 3.751 billion.
Last month, Vietnam Textile and Apparel Association (VIitas) requires local businesses exploratory survey of yarns and fabrics imported from other countries such as India, Indonesia, Malaysia, Korea and Thailand, in order to reduce the dependence on China, the main supplier of raw materials to Vietnam.
Last year, exports of textiles and garments 18.9% of Vietnam to 17.946 billion compared with last year, and if this trend continues, textile and garment exports of Vietnam would hit a $ 20 billion this year.
(by Fibre2fashion News - TL, ITPC)