Vietnam's textile exports earn $5.2 bn in Jan-Feb

Fabric and garment exports from the Southeast Asian nation increased at 11.9 per cent year-on-year to $4.599 billion during January-February 2019. Of this, the US alone accounted for nearly half or $2.142 billion, followed by Japan and South Korea with exports to these countries valued at $577.888 million and $473.620 million, respectively.

Vietnam also exported 240,566 tons of yarn, registering a growth of 17.2 per cent year-on-year by volume, according to the data. This was valued at $622.911 million, up 11.8 per cent. Of this, China imported around 29 per cent or $181.489 million, followed by $16.592 million by India.

On the other hand, Vietnam imported 229,484 tons of cotton and 150,651 tons of yarn, valued at $428.313 million and $339.094 million, respectively, during the two-month period under review. Fabric imports during the period were valued at $1.790 billion. Thus, Vietnam’s total spending on import of cotton, yarn and fabric amounted to $2.257 billion.

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. (PC)

Fibre2Fashion News Desk – India