Vietnam recorded a decent growth in textile and clothing (T&C) exports to the USA during January to April 2018 period. The data released by the US Office of Textiles and Apparel and analysed by Apparel Resources indicates that Vietnam is the third largest T&C exporter to the USA after China and India (volume-wise) and second after China (value-wise).
During Jan.-Apr. ’18 period, Vietnam exported T&C worth US $ 3997.06 million, up by 6.18 per cent from the corresponding period in 2017. Readymade garments had 94.34 per cent of share in exported value while the rest 5.66 per cent was shared by other textile products.
RMG exports earned US $ 3770.64 million marking 4.05 per cent growth on the yearly note. Cotton and Man Made Fibre (MMF) apparels steered the growth of exports as cotton apparels shipment was worth US $ 1579 million (up 1.84%), while latter tapped US $ 2092.83 million (up 6.75%) in its respective exports.
On the other hand, exports of wool apparels and silk & veg apparels continued dipping on the yearly note. Wool apparels accounted for US $ 27.69 million (down 12.34%), whereas exports of silk & veg apparels valued at just US $ 71.11 million posting a drop of 12.34 per cent Y-o-Y.
However, the falling trend got limited to above-mentioned two categories only as exports of non-apparel products from Vietnam to USA skyrocketed by 61.24 per cent to reach US $ 226.42 million figures beating its last years’ export value which stood at US $ 140.42 million in Jan.-Apr. ’17 period.
Further, Made-ups topped the export growth in non-apparel products as it saw a staggering jump of 107.18 per cent to clock US $ 160.27 million in the mentioned period as against US $ 77.36 million in the same period last year.
Other textile products such as and fabrics too grew in their respective exports though value is not as big as other products. Yarns exports from Vietnam to its largest market USA jumped a decent 15.20 per cent to earn US $ 4.53 million, while the value of fabric exports got a boost by 4.20 per cent and reached US $ 61.62 million in the first 4 months of 2018.
The growth in T&C exports of Vietnam in the USA market indicates that the South-East Asian manufacturing powerhouse is ready to achieve its export target of US $ 34-35 billion by this year.
