Increase textile and apparel exports to the US
Garment exports to the United States may reach $ 13.83 to $ 13.9 billion by the end of this year, but the move to benefit from import orders flowing to Vietnam from the US-China trade war remains unclear. And if there is no immediate impact.
Garment exports to the United States account for half
In the first half of 2018, textile and garment continued to be one of the main items with high turnover, reaching 13.42 billion USD, up 13.8% over the same period.
Manufacturing activities of garment enterprises in the first half of 2018 are relatively favorable because of abundant orders, most of enterprises have orders until the end of the third quarter, even the end of this year.
In particular, the market is a big determinant of the value of textile and apparel exports. The United States still has a large door to import large quantities of goods from Vietnam.
According to the Vietnam Textile and Garment Association (VITAS), garment exports to the United States in the first six months of this year were estimated at $ 6.4 billion, up 12.5% over the same period last year, accounting for 47.7% of exports. this sector.
Pham Xuan Tri, General Director of Phong Phu Corporation, said Phong Phu is still exporting well to the US, Japan and South Korea, with stable orders, focusing on commodities with advantages yarn , demin fabric, cotton towel …
“Many years of textile and apparel business with the United States, Vietnamese enterprises, including Phong Phu, are highly valued by customers for their ability to supply goods and quality products, which are plus points. of textiles into the US, “said Trinh.
Export activity in 2018 is forecasted to continue flourishing. According to the results of the survey on the quarterly production and business trends of the manufacturing and processing industry in the last 6 months of 2018 with the participation of 6,500 selected enterprises surveyed by the General Statistics Office shows.
Up to 93.7% of businesses optimistic that in the last 6 months of the year exports increased and remained stable compared to the first 6 months, of which garment, fiber … is the export sector forecasts that orders Highest exports.
Fears of domestic competition are more acute
The United States officially imposed a 25 percent tax on China’s $ 34 billion worth of goods on July 6, and China immediately retaliated, when it decided to impose a 25 percent tax on the $ 34 billion It is one of the main factors affecting the global picture of textile trade in 2018.
Vietnam textile and garment, despite being well appreciated, is not easy to create an immediate surge in export growth, although the third and fourth quarters of the year are the peak of textile and garment exports. – east, although theoretically, the chances for textile exports increase is yes.
TS. Huynh The Du, Fulbright University lecturer, said that the opportunity to increase exports to the US with a number of long-standing Vietnam’s direct competition with China such as textiles, leather and footwear … will come more.
Meanwhile, VITAS also said that if Chinese textiles and clothing are subject to high taxes in the United States, those that are directly competing with China in the US market will benefit. The most flatter is Vietnam and other low-cost competing countries such as Cambodia, Bangladesh.
In addition, as China’s textile exports are threatened, it is unlikely that the Chinese government will further promote the flow of production to its neighbors, including Vietnam, in order to take advantage of the edge. the cost of labor, trade costs.
Le Quang Hung, Chairman of Garmex Saigon Garment Joint Stock Company, said that China’s labor costs have been rising for several years now, so it has not invested much in textile and garment exports and has no edge. Too much competition with Vietnam’s textile and garment exports.
In fact, there are some US importers worried about the impact of the US-China trade war, shifting orders, changing suppliers from China to Vietnam, but not much. “Only concern is that Chinese textiles can not be exported to the United States because of high taxes, which will spill over into neighboring countries, including Vietnam. Then, the garment market in the country will be more competitive, Hung said