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Textile and garment exports: Depends heavily on imported materials

According to the latest statistics from the General Department of Vietnam Customs, as of 15 December 2018, total export turnover of textiles and garments was US$ 28.951 billion.

According to the calculation of the Textile and Garment Industry, the export turnover of this industry is US$ 35.117 billion (including 4 commodity groups: textile and garment; fiber and yarn; fabric and technical fabric; textile and garment materials and auxiliary materials).

2018 is considered as the prosperous period in the export growth rate for the Textile and Garment Industry in recent years.

Because, if separately calculating the textile and garment group, the growth rate of this group is nearly 16.7%, and if including 4 commodity groups, the growth rate is 15.8%. This is an impressive result because in recent years, the growth rate of this industry, especially the major commodity group (the textile and garment group) is only about 10%.

Regarding the export market, the US is still the largest importer with a value of US$ 12.45 billion, up 11.8% and accounting for 45% (at the end of November 2018 ).

The following markets are the EU (28 countries) with a value of US$ 3.78 billion, increasing by 11.5%; Japan hit US$ 3.48 billion, increasing by 24.3%; South Korea touched US$ 3.05 billion, increasing by 24.7%...

However, it is easy to realize that the key export industry is heavily dependent on imported materials and auxiliary materials.

As of 15 December 2018, the import turnover of materials and auxiliary materials (cotton; fiber and yarn; fabric; materials and auxiliary materials for textile, garment, leather and shoes) was US$ 24 billion.

In which, the fabric group has the highest turnover of US$ 12.241 billion, a year-on- year increase of 12.4%.

The remaining 3 commodity groups also have the import turnover of up to billion USD. Specifically, materials and auxiliary materials for textile, garment, leather and shoes reached US$ 5.495 billion, up 4.9%, cotton with US$ 2.916 billion; fiber and yarn imports were US$ 2,311 billion, up 33.2 US$ billion.

Calculating the 4 commodity groups, the growth rate is up to 19%. Thus, the demand for the import of these commodity groups is still increasing sharply.

Import markets (updating at the end November) are mainly: China at US$ 9.65 billion, up 18% over the previous year; South Korea with US$ 2.87 billion USD, up 6%; Taiwan came to 2.25 US$ billion, up 3%; the US stood at 1.84 billion, up 22.2% ...

Source: Customs News