Vietnamese Textile Exports Depend On China For Raw Materials

With its cheap labor force, it has become the production base of clothing and other labor-intensive industries.

Vietnam's trade in clothing and textiles exports to the United States and the European Union has increased rapidly.

To a certain extent, it benefited from the international free trade treaty which Vietnam joined.

At present, many international buyers have pferred purchase orders from China and other countries to Vietnam.

However, Vietnam's supporting industries are weak, clothing and

Most of the raw materials needed depend on imports, and China is the main supplier of raw materials such as cloth and spinning.

In order to get rid of import dependence, Vietnamese enterprises are building a production base together to improve the self-sufficiency rate of raw materials.

Recent reports show that textile and clothing are Vietnam's most important export sectors.

In 2014, exports of textiles and clothing exceeded US $24 billion, an increase of 19% over the same period last year.

The export volume of clothing products increased by 17%, to US $21 billion, and the export volume of textiles was US $3 billion.

This shows that Vietnam's textile and apparel has great attraction in the international market.

In view of this, the Vietnam textile and Apparel Association has set up a grand goal of export volume of 280 to 28 billion 500 million US dollars in 2015.

In order to achieve the goal, Vietnam National Textile and Garment Group said it will invest about 9 trillion dong dong (US $421 million 150 thousand) in 2015-2016 years to establish a raw material production area, aiming to reduce imports.

Dependence.

China is the largest supplier of raw materials in the textile and clothing industries of Vietnam.

In the first 10 months of 2014, the import of clothing and textile industry increased by 23.5% compared to the same period last year, reaching 5 billion 600 million US dollars.

Because the supporting industries are too weak, Vietnamese textile industry is too dependent on China's raw materials.

Vietnam's national textile and Apparel Group expects to provide 55% of the cloth for Vietnamese domestic enterprises by 2017.

The value of Vietnam's clothing and textile exports to the US market is estimated at $9 billion 800 million, an increase of 12.6% over 2013, and is expected to reach US $11 billion this year.

The value of exports to the EU rose by 17% to $3 billion 400 million, which is expected to reach US $4 billion this year.

Vietnam's textile and clothing exports showed good growth in major international markets last year.

This is mainly attributable to the government's efforts to negotiate a free trade agreement (FTA).

Although the free trade agreement has not yet come into force, it has attracted many international buyers.

They have begun to pfer orders from other countries to Vietnam.