Vietnam’s textile and garment exports in 2014 grew over 19% – the highest growth rate in three years. Forecasts, this growth still remain in 2015.
2014, total import turnover of textile raw materials sector is estimated at $ 15.8 billion, up 16% compared to 2013. In particular, imports of cotton is estimated at $ 1.4 billion, imports 1.6 billion fiber USD, imports estimated at 9.5 billion dollars fabric. Overall all raw materials are lower import growth rate in export growth. If considered separately, import of raw materials serves to export about $ 12.8 billion, the textile industry had a trade surplus of about $ 11 billion in 2014.
Main Market rose more than 2 figures
Report of the Ministry of Trade showed that textile export is the 2nd largest value sector, reaching $ 24.5 billion, an increase of over 19%. Particularly apparel items over $ 21 billion, up 17% compared to 2013, remaining textile fibers export value of over $ 3 billion. Textile exports to major markets such as the US, EU, Japan still good growth.
In particular, exports to the US market with a high growth rate, reaching $ 9.8 billion, up 12.6%. If compared to the national competition in the US market, Vietnam continues to achieve growth in oil with 2 figures, while other countries increased slightly or even negative growth (China rose less than 1% India increased by 6%, Indonesia, Bangladesh, Cambodia negative growth). 2nd EU market with a turnover of $ 3.4 billion, up 17%. The export items such as jackets, pants and women, male and female suite clothing line … high share in the structure of garment exports to the EU. The market share of Vietnam textiles in the EU market rose from 1% (in 2013) to 1.98% (in 2014). Japan is the 3rd largest export market of Vietnam with a turnover of $ 2.7 billion increased 9%, from 6.01% market share rose to 6.61%.
Assessment of success in the Le Tien Truong, Deputy Chairman of Vietnam Textile and Apparel Association (Vitas) said that the results achieved on the one hand reflects the business community’s efforts in the search for new markets for both input and output, opens opportunities and market share increased turnover of Vietnam’s garment exports. However, the textile export volume in 2014 also could not speak to the effectiveness of the negotiation of Free Trade Agreements (FTA), especially those of this Agreement are directly related to the main markets Strategic Partnership Agreement Trans-Pacific (TPP), the FTA with the EU, South Korea, the Customs Union (Russia – Belarus – Kazakhstan).
“Although the FTA has not yet assessed the effect but the great attraction to partners when they decided to move orders from countries that do not join the Agreement to Vietnam. This is a favorable one and is the premise for Vietnam’s garment continues to grow strongly in 2015, “he said Truong.
Objective 28.5 billion
With a solid premise, in 2015 was considered a good year for the operation of the textile industry exports. Depth analysis of opportunities in the market, said Le Tien Truong said turnover growth prospects even in the traditional markets of the sector is very large. Like the EU, the FTA Vietnam – EU was signed, Vietnam’s textile exports to the EU will prosper like the Bangladesh case strong growth in the EU since the tax incentives GSP. Forecast 2015, textile exports to Vietnam to the EU will maintain its momentum and reached over $ 4 billion.
For the Japanese market, Vietnam has strengths as one of the countries participating in the TPP negotiations with Japan. The Japanese investors to increase investment in the production of materials in the textile industry in Vietnam has given Vietnam’s garment industry the opportunity to take advantage of advantages of the rules of origin and gradually meets technical standards and the environment while exports to Japan. Thus, in 2015, predicted the textile export turnover of Vietnam to Japan continued positive, can reach $ 2.9 billion, up 9% compared with 2014.
With growth as in 2014 plus gravity coming from the FTA signing, Vitas expected, textile industry plans to export from 28 to 28.5 billion dollars, an increase of 15.9% in 2015.
When asked about the preparations for the upcoming FTA signing, representatives of Vitas said, some textile companies have developed a road map and plan for production towards FOB, ODM and prepare for participation TPP gradually through modern technological innovation and improve the efficiency of governance, especially in areas like weaving, dyeing, finishing and design. Featuring the FTA coming into force are concerned about the origin of fiber (TPP), the fabric (EU), companies are actively investing in the development of production materials to increase the internal rate Localization of products for export. Vietnam Textile Group has set a target of 2017 may be active in more than 55% fabrics in their business chain.