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Vietnam recently left behind South Korea to turn the world’s sixth largest fibre and yarn exporter after exporting $2.37 billion worth of such items in the first five months this year. The revenue increased by 10 per cent from a year earlier, according to the Vietnam Cotton and Spinning Association (VCOSA). China accounted for nearly 60 per cent of Vietnam’s textile-garment exports.
Meanwhile, the country exported textiles, garments, fibre, yarn and fabric worth $18.73 billion during the period—a rise of 20.81 per cent year on year. That includes $14.99 billion in textiles-garments exports (up by 22.2 per cent), $376.8 million in geotextiles (up by 27 per cent) and $979.8 million in materials (up by 19.2 per cent).
Vietnam has left behind South Korea to turn the world’s sixth largest fibre and yarn exporter after exporting $2.37 billion worth of such items in the first five months this year. The revenue rose by 10 per cent from a year earlier, according to the Vietnam Cotton and Spinning Association. China accounted for nearly 60 per cent of its textile-garment exports
The United States and Europe reducing shipments from China has offered Vietnam scope to expand its market share, according to a Vietnamese media report.
Vietnam’s economic integration with the world, especially signing of free trade agreements, also offers enough scope for breakthrough developments in the fibre and yarn segments.
Fibre2Fashion News Desk (DS)
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