Garment and textile exports to China grew sharply

	Vietnam sees bright future for apparel exports to APEC
	Apparel exports predicted to hit US$30.5 billion
	Local textile, garment firms yet to reap FTA benefits

Textile and garment exports to the Chinese market had a significant growth.

Similarly, according to an analysis of the textile and garment industry by Vietnam International Securities Joint Stock Company, four major markets as the US, Japan, South Korea and China, accounted for 75% of total textile and garment exports. In which the textile and garment exports to the US, Japan, and South Korea were maintaining a growth rate of 20%, to the Chinese market it reached a growth rate of nearly 50%.

Although the textile and garment exports to the Chinese market were quite satisfactory, Vietnam also imported a large quantity of raw materials from China, in which fabric imports accounted for 50%.

As the import of raw fabric materials accounted for 80% of the demand (50% of which is from the Chinese market), so the added value of textile and garment industry was not high due to the lack of the important stage of fibers, yarns, dying and designing. The dependence on the supply of fabrics from the Chinese market has made the textile and garment industry less active and loses many competitive advantages.

According to the latest statistics of the General Department of Customs, the textile and apparel exports in August reached US$ 3.16 billion, up 10.1% compared with the previous month. Accordingly, bringing the exports of this group in the eight months of 2018 to US$ 19.76 billion, up 16.9%, up US$ 2.86 billion over the same period last year.

Garment & textile sector, magnet for foreign investors More than 2000 foreign businesses from 16 countries and territories worldwide have invested some 15 75 trillion ...

After two thirds of the plan for 2018, the US remains the largest importer of Vietnam’s textiles and apparels with a value of US$ 9.11 billion, a slight increase of 11.9% over the same period last year and accounting for 46.1% of the country’s total garment export turnover; followed by the EU (28 countries) with US$ 2.76, up 11.7%; and Japanese market with US$ 2.47 billion, up 25.8% ...