According to recent reports by foreign media, Vietnam’s textile exports in the first half of the year reached US$6.16 billion, an increase of 30% year-on-year. If this trend continues, Vietnam's apparel and textile sector is likely to complete its $13 billion export target in 2011. However, China’s textile exports this year have shown a downward trend.
Experts said that in the face of international pressure, China Textile should occupy the high-end market, actively adjust the structure, achieve product technology innovation, and do brand promotion at the same time.
Southeast Asian countries have entered the textile and apparel export market and have entered the white paper.
According to official data from the United States, from January to April of this year, Vietnam, Indonesia, and Bangladesh have pushed India out of the camp of the top five exporting countries.
A study by the Indian Federal Chamber of Commerce and Industry (FICCI) last year showed that Southeast Asian countries and Bangladesh, together with China, have grown faster than India in the United States since 2004.
FICCI's research also shows that these countries are still creating healthy growth records compared to India and China. The textile and garment export data of Vietnam and Bangladesh in the past few months “pulled the windâ€.
Southeast Asian textile clothing exports are booming
According to Vietnam's "Economic Times" reported on June 28, Vietnam's textile exports in the first half of this year reached 6.16 billion US dollars, an increase of 30%. If this trend continues, Vietnam's apparel and textile sector is likely to complete its $13 billion export target in 2011.
The positive trend of Vietnamese garment exports can be attributed to the general stability of export markets, and they are basically not affected by macroeconomic changes. In addition to the EU and Japan, the United States is Vietnam's most promising commodity export market. In 2010, Vietnam’s garment exports to the United States reached US$6 billion, an increase of 22% over 2009. According to a survey of global markets published recently in the Financial Times, from the beginning of this year, the United States imported 39 percent of its garments from Bangladesh and 31 percent, 23 percent, and 19 percent from Cambodia, El Salvador, and Honduras. Bangladesh has become the fastest growing country in terms of garment exports to the United States. Cambodia, El Salvador and Honduras are ranked 2, 3 and 4 respectively.
It is understood that in 2010, clothing from these countries became the cheapest source of clothing in the US market.
Currently, 58% of clothing in Bangladesh is exported to Europe and 34% to the United States.
According to the data released by the General Administration of Customs in May, China's textile and apparel export growth rate has continued to decline in China, which is still sitting in the largest supplier country in the US market. In May, China exported approximately 20.328 billion U.S. dollars in textiles and clothing, which represented a year-on-year increase of 23.77%, an increase of 12.86 percentage points from April, and an increase of 2.33% from the previous month. The increase rate was 17.62 percentage points lower than that in April.
Southeast Asia is "more expensive"
According to Ms. Hu, the director of the China Textile Import & Export Chamber of Commerce’s clothing department, in the context of the financial crisis, China’s textile exports to major countries are still growing, but this year it has shown a downward trend, while Southeast Asian countries’ exports have been increasing. “In the past, in the U.S. clothing market, 6 out of 10 garments were made in China, but now there are only two or three.†Ms. Hu said that according to statistics from January to April of this year, the quantity of textiles imported from China in the main market declined for the first time. It has dropped by about three to five percentage points, mainly due to the increase in domestic cost factors.
According to Ms. Hu’s analysis, China’s textile and apparel products have a high market share in foreign markets, relying mainly on price advantages. This year, the average unit price of Chinese textiles is higher than the unit price that the United States imports from the world. At the same time, consumers in the United States are more mature and tend to choose low-cost, good-quality clothing, which will inevitably shift orders. “Other Southeast Asian countries also have high raw materials, but their labor costs are not as high as in China. For example, in Vietnam, labor costs are only about half that of China, reaching a ratio of 5:3, so orders will flow to low-price countries and regions. Although the process is relatively complicated, China's garments still have certain technological advantages, but orders have still shifted from China," said Ms. Hu. If the industrial chain of other countries is perfected, it will be difficult for orders to return to China.
Ms. Hu further analyzed that the advantages of Vietnam's textile exports are that the industrial chain has been improved, the cost of labor is relatively low, and the quality of products has been improved, so there are more orders.
Experts said that in the face of international pressure, China Textile should occupy the high-end market, actively adjust the structure, achieve product technology innovation, and do brand promotion at the same time.
Southeast Asian countries have entered the textile and apparel export market and have entered the white paper.
According to official data from the United States, from January to April of this year, Vietnam, Indonesia, and Bangladesh have pushed India out of the camp of the top five exporting countries.
A study by the Indian Federal Chamber of Commerce and Industry (FICCI) last year showed that Southeast Asian countries and Bangladesh, together with China, have grown faster than India in the United States since 2004.
FICCI's research also shows that these countries are still creating healthy growth records compared to India and China. The textile and garment export data of Vietnam and Bangladesh in the past few months “pulled the windâ€.
Southeast Asian textile clothing exports are booming
According to Vietnam's "Economic Times" reported on June 28, Vietnam's textile exports in the first half of this year reached 6.16 billion US dollars, an increase of 30%. If this trend continues, Vietnam's apparel and textile sector is likely to complete its $13 billion export target in 2011.
The positive trend of Vietnamese garment exports can be attributed to the general stability of export markets, and they are basically not affected by macroeconomic changes. In addition to the EU and Japan, the United States is Vietnam's most promising commodity export market. In 2010, Vietnam’s garment exports to the United States reached US$6 billion, an increase of 22% over 2009. According to a survey of global markets published recently in the Financial Times, from the beginning of this year, the United States imported 39 percent of its garments from Bangladesh and 31 percent, 23 percent, and 19 percent from Cambodia, El Salvador, and Honduras. Bangladesh has become the fastest growing country in terms of garment exports to the United States. Cambodia, El Salvador and Honduras are ranked 2, 3 and 4 respectively.
It is understood that in 2010, clothing from these countries became the cheapest source of clothing in the US market.
Currently, 58% of clothing in Bangladesh is exported to Europe and 34% to the United States.
According to the data released by the General Administration of Customs in May, China's textile and apparel export growth rate has continued to decline in China, which is still sitting in the largest supplier country in the US market. In May, China exported approximately 20.328 billion U.S. dollars in textiles and clothing, which represented a year-on-year increase of 23.77%, an increase of 12.86 percentage points from April, and an increase of 2.33% from the previous month. The increase rate was 17.62 percentage points lower than that in April.
Southeast Asia is "more expensive"
According to Ms. Hu, the director of the China Textile Import & Export Chamber of Commerce’s clothing department, in the context of the financial crisis, China’s textile exports to major countries are still growing, but this year it has shown a downward trend, while Southeast Asian countries’ exports have been increasing. “In the past, in the U.S. clothing market, 6 out of 10 garments were made in China, but now there are only two or three.†Ms. Hu said that according to statistics from January to April of this year, the quantity of textiles imported from China in the main market declined for the first time. It has dropped by about three to five percentage points, mainly due to the increase in domestic cost factors.
According to Ms. Hu’s analysis, China’s textile and apparel products have a high market share in foreign markets, relying mainly on price advantages. This year, the average unit price of Chinese textiles is higher than the unit price that the United States imports from the world. At the same time, consumers in the United States are more mature and tend to choose low-cost, good-quality clothing, which will inevitably shift orders. “Other Southeast Asian countries also have high raw materials, but their labor costs are not as high as in China. For example, in Vietnam, labor costs are only about half that of China, reaching a ratio of 5:3, so orders will flow to low-price countries and regions. Although the process is relatively complicated, China's garments still have certain technological advantages, but orders have still shifted from China," said Ms. Hu. If the industrial chain of other countries is perfected, it will be difficult for orders to return to China.
Ms. Hu further analyzed that the advantages of Vietnam's textile exports are that the industrial chain has been improved, the cost of labor is relatively low, and the quality of products has been improved, so there are more orders.
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