The textile industry in several neighboring countries, including Vietnam, is experiencing rapid growth. However, due to an incomplete industrial chain, these nations are unable to produce enough fabric locally, creating a strong demand for textiles such as domestic chemical fibers. Yang Jichao, the Secretary General of the China National Textile and Apparel Council, highlighted this during the 2nd China Special Fabrics Summit last week.
In the past, clothing and fabric exports were mainly directed toward the traditional markets of the United States, Japan, and the European Union. However, with the financial crisis impacting these developed economies, many textile companies have shifted their focus toward emerging markets, aiming to diversify their export destinations. Countries like Vietnam and Cambodia are seeing a surge in clothing production and exports. Despite this growth, their industrial chains remain underdeveloped, leading to a much higher increase in fabric imports compared to finished garments.
For instance, over 90% of textile fabrics and accessories used in Vietnam are imported. As orders grow, the country is increasingly sourcing high-quality fabrics and garment components from abroad. From January to September this year, Vietnam's clothing exports surpassed $8 billion, while fabric imports reached over $3.6 billion. Among the sources, China remains the top choice for Vietnamese fabric imports.
According to customs data, with the official launch of the ASEAN-China Free Trade Area this year, demand for supporting products in Southeast Asia's textile sector has risen. Additionally, rising raw material costs have pushed up the prices of textile exports. As a result, China's chemical fiber exports from January to September this year totaled $4.91 billion, marking a 32.4% increase compared to the same period last year. This trend highlights the growing role of China in supplying essential textile materials to its regional neighbors.
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Jinan Golden Bull Canvas Textiles Co.,LTd , https://www.jgbct.com