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Home / Industry Overview / Textile & Garment

Strong export growth

 

Vietnam, ranking 16th out of 153 garment exporters worldwide last year, is likely to become the 10th largest garment exporter in the world by 2010.  Textiles and garments will continue to be Vietnam ’s major industry and export in the years to come. The country has envisaged an ambitious plan to achieve the export target of US$ 7-7.5 billion a year by 2010. The strategy for the sector includes increasing the supply of domestically produced inputs through major investments in the sectors.

According to Vitas, there are 2,000 operational textile and garment enterprises, 0.5% of which are State owned, 25%, foreign invested, and the remaining, private owned or joint stock companies. Vietnamese companies can make 10,000 tonnes of fibre a year, meeting 5% of the demand, and 50,000 tonnes of general fibre (30% of demand).

Exports had been increasing by 20% per annum in recent years. In 2006, total export turnover reached $5,834bil, 15% of total export turnover, representing a 20.5% growth rate compared to 2005. The US remains the biggest export market for Vietnam, consuming 55% of exports, followed by the EU with $1,243bil in turnover (20%), and Japan ($628mil and 11%). Report showed that the domestic market just consumes 7% of the total retail turnover, estimated at $1.8bil.

Up to now, Vietnam ’s textile and garment industry has been relying heavily on imports, as 95% of the demand for cotton fibre and 70% of the demand for general fibre must be fed by imports.

Arrow Consulting’s Services

No doubt, there is a lot of business opportunities for both buyers and supliers of the textiles and garment finished products, raw materials and equipment. But many businesses found it too hard to enter as the market has its own business culture which foreign business are not familiar with in their home or other markets.

Arrow Consulting with a team having combined 50 years of expreriences in the industry is ready to offer to you comprehensive services to break through this potential market, based on our own pratical works where our team has been directly involving into different kinds of projects such as: building distribution networks, sourcing various products, local partner matching, manufacturing site evaluation and selection etc.

Arrow Consulting’s team has served the following groups to have their presence in Vietnam market: Kufner Textiles GmbH, BWF Feltec, Helsa (Germany) Global Challenge Co., Ltd., Dong Sung Fnt Co,. Ltd. (Korea), H & H International, Hang Sang Zipper, Honda Button Limited (Hongkong) etc.   

 

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