Despite changes in import policies and decision on pulling out of TPP by the US Government, the South-east Asian country Vietnam – one of the major apparel exporters to the US – remained unaffected and registered rise in its apparel exports both in values and volumes during January to February period of the current year.
Value-wise, Vietnam noted a surge of 4.05 per cent to reach US $ 1955.06 million versus US $ 1878.90 million in the same period of 2016. Volume-wise too, the country noted a boost of 6.63 per cent to 627 SME as against 587.99 SME in the corresponding period last year.
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Babies wear, foundation garments, ladies blouses, and trousers are the categories which helped Vietnam to record growth both in values and volumes on Y-o-Y basis. Whereas, jackets and blazers, men’s shirts, nightwear, and suits/ensembles are the categories which rose in volume terms while witnessing the decline in values in the apparel exports to the US during the review period.
It’s worth mentioning here that during the review period, Vietnam stands as the only apparel exporter to US which gained both in values and volumes, beating all the major manufacturing destinations such as China, Bangladesh, India, Sri Lanka and Pakistan.