The exports of fabric and apparel from Vietnam surged by 19.4 percent year-on-year in the first eight months of 2014, according to the preliminary data released by the Customs IT & Statistics Department, General Department of Customs, Vietnam's Ministry of Finance. Fabric and garment exports from Vietnam totaled US$ 13.606 billion in the January-August 2014, growing at 19.4 percent year-on-year.
During the eight-month period, Vietnam exported 549,872 tons of yarn fetching $1.655 billion, registering an increase of 20.3 percent and 20.5 percent year-on-year, respectively, according to the data.
The US alone imported $6.497 billion worth of fabric and apparel from Vietnam during the period under review. Japan and South Korea were the other main destinations for Vietnamese fabric and clothing with exports valued at $1.682 billion and $1.216 billion, respectively. Meanwhile, Vietnam's cotton imports soared by 26.3 percent year-on-year to 488,066 tons in terms of quantity, and by 26.9 percent to $976.668 million in terms of value. Similarly, Vietnam's yarn imports grew by 7.1 percent year-on-year and 2.1 percent by volume and value, respectively, to 487,088 tons and $1.023 billion. Fabric imports also climbed 14.3 percent to $6.124 billion.
With $3.008 billion worth of goods, China was the largest supplier of fabric to Vietnam during the period under discussion. Last year, Vietnam's fabric and garment exports grew by 18.9 percent year-on-year to $17.946 billion, and the country's fabric and garment exports are expected to touch $20 billion mark this year.
