The world textile industry is deeply influenced by the macroeconomic fluctuations. China is the world's largest textile factory with a complete supply chain and advantages of machinery and low-price labor. Developed countries such as the US, Italy, Korea and Hong Kong dominate the stages that brings about higher added value such as design, marketing and branding, commercialization and export.
It is predicted that in the next 5 years, emerging markets with large population size such as China, India etc, will grow strongly; Meanwhile, the textile market in developed countries, especially European countries, will tend to be saturated and grow slowly.
The textile and apprel industry is one of Vietnam's key industries, the industry with the second largest export turnover with export value contributing from 10-15% to GDP. In recent years, the textile industry has continuously developed at an average rate of 17% per year.
According to the General Statistics Office, by the end of 2017, Vietnam had nearly 11,000 textile companies with small and medium-sized companies making up the majority. Although FDI enterprises accounted for only 25% in quantity, they contributed more than 59.9% to Vietnam's apparel export turnover in 2018.
In 2018, fiber production output of the whole country increased by about 12.2% compared to the same period in 2017. The consumption output in 2018 was estimated to increase by 14.6% compared to 2017. In 2018, clothing production volume increased by 5% compared to 2017, due to positive export growth from export orders to many large countries such as the US, Japan, and South Korea increased. Textile and apparel exports in 2018 increased by 14.5% over the same period in 2017, bringing textile and apparel to the second position, after exporting phones and components.
Domestic textile enterprises are weak in knowledge-intensive stages such as building distribution, export, design and branding systems. It is predicted that Vietnam's textile and apparel export turnover may reach 50-55 billion USD by 2025 thanks to FTAs.
It is predicted that in the next 5 years, emerging markets with large population size such as China, India etc, will grow strongly; Meanwhile, the textile market in developed countries, especially European countries, will tend to be saturated and grow slowly.
The textile and apprel industry is one of Vietnam's key industries, the industry with the second largest export turnover with export value contributing from 10-15% to GDP. In recent years, the textile industry has continuously developed at an average rate of 17% per year.
According to the General Statistics Office, by the end of 2017, Vietnam had nearly 11,000 textile companies with small and medium-sized companies making up the majority. Although FDI enterprises accounted for only 25% in quantity, they contributed more than 59.9% to Vietnam's apparel export turnover in 2018.
In 2018, fiber production output of the whole country increased by about 12.2% compared to the same period in 2017. The consumption output in 2018 was estimated to increase by 14.6% compared to 2017. In 2018, clothing production volume increased by 5% compared to 2017, due to positive export growth from export orders to many large countries such as the US, Japan, and South Korea increased. Textile and apparel exports in 2018 increased by 14.5% over the same period in 2017, bringing textile and apparel to the second position, after exporting phones and components.
Domestic textile enterprises are weak in knowledge-intensive stages such as building distribution, export, design and branding systems. It is predicted that Vietnam's textile and apparel export turnover may reach 50-55 billion USD by 2025 thanks to FTAs.
Table of Contents
AbbreviationsExecutive summaryIV. Conclusion
I. Business environment
II. Industry overview
III. Prospect and risk
IV. Enterprise analysis
List of figures
List of tables
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Viet Tien Garment Corporation
- Hoa Tho Textile Garment JSC
- Nha Be Garment Corporation
- Garment Corporation 10 - JSC
- Duc Giang Corporation
- TNG Investment and Trade JSC
- Sai Gon Garment Manufacturing Trading Corporation
- Dong Nai Garment Corporation
- Phong Phu Corporation
- Viet Thang Corporation
- Thanh Cong Textile Garment Investment Trading JSC
- Century Synthetic Fiber Corporation
- Hue Textile Garment JSC
Methodology
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