Apparel Resources’ Post

#SUNTECHInsights Vietnam’s textile and garment exports surged by 6.3% to $20.2B in first seven months of 2024. This performance highlights the industry’s ability to recover and expand amidst global challenges. 🤝 It shows adaptability to market changes and the increased demand for Vietnamese textiles in key export markets. The United States, the European Union, and Japan remain the largest importers of Vietnamese garments, driving the industry’s expansion. #textileexports #vietnam #garmentexports

In H1 2024, Vietnam's textile and garment exports increased by 4.6 per cent to $16.522 billion, with June exports rising 14.4 per cent month-on-month. Yarn exports grew 4.5 per cent to $2.161 billion, though June saw a month-on-month decline. The US was the largest market, accounting for 43.63 per cent of textile exports. Cotton and yarn imports also surged. #Fibre2Fashion #f2f #apparel #textile #fashion #textileindustry #f2fnews Read more here: https://lnkd.in/gvhCzYG5

Vietnam's textile and garment exports (excluding yarn and fibre) increased by 8.9 per cent YoY, reaching $27.34 billion from January to September, while yarn exports rose slightly by 0.1 per cent. The US remained the largest market for garments, and China led in yarn imports. Vietnam's cotton imports grew by 2.3 per cent. Despite growth, the sector's 2024 export target was lowered to $44 billion. #Fibre2Fashion #f2f #apparel #textile #fashion #textileindustry #f2fnews Read more here: https://lnkd.in/d2ns_ijR

VIETNAM'S RANKS FIRST IN THE MARKET SHARE OF GARMENT EXPORTS TO THE UNITED STATES According to Vinatex, in the first five months of 2024, Vietnam's textile and garment exports reached nearly 16 billion US dollars, an increase of 5% year-on-year. According to the data, Vietnam has surpassed China in the US apparel export market share, vaulting to the first place, and the fastest growth rate among the world's top three textile exporters. This achievement is not only due to the continuous efforts and innovation of the Vietnamese textile industry, but also reflects the subtle changes taking place in the global textile industry supply chain. Orders are Going to Vietnam Vietnam's exports to the US market showed a bright spot. Vietnam's textile and apparel jumped to the first place in the apparel export market share, reaching $6 billion, an increase of 4%. As a result, Vietnam has surpassed China and ranks first among the world's three major textile and apparel exporters. In the past few years, with the changes in the international trade and the adjustment of global consumer demand, many countries began to transfer orders to Vietnam. In recent years, despite the corruption problems, the stable foreign preferential policies have been basically no trouble, and Vietnam has successfully attracted a large number of orders, especially from the United States, with its cheap labor resources and flexible production model. According to Vinatex, this growth is not due to improving global consumer demand. In the case of poor improvement in global consumer demand, the shift of orders from other countries to Vietnam and the exchange rate advantage when the Vietnamese dong depreciated by 5% against the US dollar were the main reasons. Despite this, the Vietnamese textile industry still faces many challenges, such as rising production costs and increasing transportation costs. Faced with these challenges, Vietnam's textile industry has shown strong resilience and adaptability. Many fiber industry companies have turned to new products such as blended yarns and recycled yarns. At the same time, they are also actively looking for and developing new markets to reduce their dependence on traditional markets. #textile #vietnam #garment #UnitedStates #businessinsights

The Vietnam Textile and Apparel Association (VITAS) reported that the sector’s export revenue in August was estimated at nearly US$4.3 billion, raising the value in the first eight months of this year to US$28.3 billion, up 6.2% year-on-year. Vietnam Textile & Apparel Association (VITAS) Nguyen Hoang Hai #VietnamTextiles #ApparelIndustry #ExportGrowth #VITAS #VietnamGarment #GlobalTrade #SmartManufacturing #GreenProduction #DigitalTransformation #SustainableFashion #ESGStandards #VietnamEconomy #TextileInnovation #SupplyChainOptimization https://lnkd.in/gkxA_zKR

Vietnam imports coffee, rubber and cotton so much that these industries are not self sufficient. Their processing capacity is greater than the supply of local materials. Vietnam imports ~1.4 million tonnes of rubber. Vietnam imports ~1.2 million tonnes of coffee. Vietnam imports 99% of the cotton that it spins into yarn. I had the privilege of being a speaker at this year’s Vietnam International Textile & Garment executive seminar, where industry experts gathered to discuss the future of Vietnam’s garment industry amidst a shifting global landscape. The session on “Toward self-sufficient Textile Materials and Fabrics” gave me a chance to reflect on Vietnam’s progress toward becoming more independent in textile raw materials and fabric production. While the journey is long and complex, companies like Ananas are pioneering 100% made-in-Vietnam production, offering a promising path forward for the industry to reduce import dependence and strengthen its global position. It was also a pleasure to share the stage with industry leaders including Mr. Linh Tran - adidas Sourcing Vietnam and Mr. Viet Anh - BOO during the panel on “Beyond CMT: The Essential Journey to OEM, ODM, and OBM.” We discussed the concepts of ODM and OBM, and debated whether Vietnam’s textile and garment companies should evolve beyond traditional CMT models. While transformation is crucial in today’s fast-evolving landscape, the extent and direction of that change must align with each company’s focus and capabilities. A big thank you to CCX Partners and Chanchao International for facilitating such a valuable platform for dialogue and collaboration. It’s inspiring to see our community coming together to drive innovation and sustainability in the textile sector. Looking forward to the future and the exciting possibilities that lie ahead for all of us! #VietnamTextile #GarmentIndustry #Sustainability #Innovation #GlobalTrade #Collaboration

Bangladesh’s ready-made garment (RMG) industry is experiencing a significant decline in exports to the United States. According to recent trade data, RMG exports to the US dropped by 9.16%, amounting to $4.7 billion during the period from January to August 2024. Currently, Bangladesh ranks third, holding a 9% share of the apparel market in the United States. Most major apparel suppliers to the US have reported negative growth, primarily due to reduced demand stemming from high inflation and economic instability. As of August 2024, China and Vietnam occupy the first and second positions in the US market, respectively. In contrast, RMG exports from Bangladesh to the European Union (EU) increased by 6.9%, reaching $1.62 billion in September 2024, compared to $1.51 billion in the same month last year. However, overall exports to the EU fell by 2.47% during the first nine months of 2024, totaling $14.18 billion, down from $14.54 billion during the same period the previous year.

In 2023 US textile and clothing imports fell in value to their third lowest level since 2013. They also fell in volume terms, although they were still at their third highest level on record. Within the 2023 total, imports of clothing plunged in volume terms to their second lowest level since 2012 and imports of yarn fell to their lowest level since 2016. Imports of fabrics also fell but they were still at their second highest level on record. Imports of made-up textiles fell too but they were still at their fourth highest level on record. Visit the link for more analysis and insight into US textile and clothing import trends. https://bit.ly/3yPyIX4 #importexport #imports #exports #USA #textiles #clothing #apparel #markets #trade

Useful tip. Plan the next destination…

Over $37 billion in foreign direct investment (FDI) has flowed into Vietnam’s textile and garment sector, according to the Vietnam Textile and Apparel Association (VITAS). #ipavietnam #investvietnam #tradevietnam