US Customs Report on Vietnam Apparel Imports in H1

The US Customs Department has recently released its statistics on Vietnam’s apparel imports to the foreign country in the first six months of this year, local media quoted the Vietnamese Ministry of Industry and Trade Thursday.

 

Vietnam’s garment and textile exporters shipped US$1.973 million to the US, up 20.7 per cent on-year, it said, noting that those categories under dumping watch of the US Department of Commerce (DOC) in June saw a 20 per cent on-year growth, much stronger than in June last year.

 

It is the high time of delivery [mid-year] that made the stronger growth, explained a Vietnamese exporter. However, the export prices decreased slightly, he added.

 

DOC started scrutinizing import of Vietnam textile and apparel products right after lifting quotas following Vietnam's accession to the WTO in January, 2007.

 

The Vietnamese ministry has advised local textile exporters to focus on high-value apparel exports to the US market warning of DOC unfavorable measures.

 

Vietnam was estimated to earn US$680 million from textile and garment shipments in June, raising the total figure to US$3.43 billion in the first half this year, a rise of 25.9 per cent on-year, the General Statistics Office.

 

The country’s apparel exports stateside may drop 50 per cent and about 80 per cent of a total 2,000 Vietnamese garment companies may go bankrupt if DOC issues a negative judgment, said Le Quoc An, Chairman of the Vietnam Textile and Apparel Association. (Securities Investment)