Vietnam Ho Chi Minh City Textile Machinery Exhibition, Manufacturers, Wholesalers

Vietnam Ho Chi Minh City Textile Machinery Exhibition

The textile and garment industry has absorbed about 2 million labors, and textiles and clothing have become Vietnam's largest export products.

Exports in 2010 exceeded $11.2 billion, an increase of 23% over 2009.

Vietnam believes that the textile and apparel industry will achieve a $13 billion export target in 2011.

By 2020, exports will reach 20 billion US dollars. According to the report, at present, Vietnam's cotton production can only meet the domestic demand of 1%.

Last year, Vietnam imported about 300,000 tons of cotton, and imported 92,000 tons in the first quarter of this year, a year-on-year increase of 262%.

Cotton is mainly imported from countries such as India and Africa. It is predicted that Vietnam's imports of cotton will reach 1 million tons per year in the next 10 years.

Li Guoan, president of the Vietnam Textile and Apparel Association (Vitas), said that in the first six months of this year, Vietnam’s clothing exports are estimated to reach $4.65 billion.

Vietnam hopes to achieve its export target of $10.5 billion this year.

The exports of Vietnamese clothing to traditional markets such as the United States and the Daily have increased by 15% and 10% respectively.

In addition, domestic garment exporters in Vietnam have extended their business to other markets, such as Taiwan, South Korea and ASEAN countries, which have also achieved significant growth. At present, Vietnam's apparel products account for 2.69% of the world market share.

In the United States and Japan, Vietnam is second only to China. Vietnam has a 7.4% zj share in the US market and a 4% share in the Japanese market.

The export market of Vietnam's textile industry is mainly the United States, the European Union, and Japan. The export volume to the United States accounts for more than 50% of the total textile industry's exports.

With Vietnam officially becoming a member of the World Trade Organization WTO on January 1, 2007, Vietnam has gradually become the world's top 10 garment exporting countries, and the government will continue to vigorously develop textile and garment and related industries.

In Vietnam, because foreign-funded or wholly-owned garment enterprises can only supply 20-30% of domestic high-grade cotton fabrics, the Vietnamese garment industry is committed to increasing exports to the United States, Europe, Japan and other places. Higher, so domestic garment manufacturers are eager to seek and develop a large market of imported cotton materials.

Due to the reasonable price and good quality of imported fabrics, Vietnamese producers can temporarily import fabrics and export them all after production (the government will refund the import tax).

Imported fabrics, especially high-count cotton, are very popular for exporters.

At present, the average number of fabrics popular in Vietnam is 40-50, but better cloth or yarn will be imported.

Although the fabric producers can import better yarns for their own production, they are generally more expensive than the fabrics imported by the garment exporters, and the fabrics produced in Vietnam are generally 20% expensive (the import duty on yarn is 20%).

This shows that this is a very good business opportunity for the production of knitting machinery and cotton manufacturers.

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