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The textile exports to TPP market increase nearly 70%

The statistics from the Board of Trade Policy - International Integration - Communication of Vietnam Textile and Apparel Association (Vitas) showed, the structure of clothing exports to the TPP market accounted for 66.8 % in the total export value of textile industry after first 5 months of 2015.

TPP consists of 12 members: Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, United States and Vietnam.

Among TPP markets, exports to the US reached the largest value with $4.050 billion, accounting for nearly 50 % of market volume TPP, increased 53% the same period, followed by Japan with value reached $1.005 billion, accounting for 12.3 %; Canada $207 million, a slight increase of 6%; Australia $55 million; Chile $43 million; Mexico $33.7 million; Malaysia $25.8 million....

Notably, of the 11 export markets in TPP, garment exports from early 2015 to now have achieved positive growth in 10 markets, except Mexico decreased slightly by 1% over the same period.

When TPP was signed and entered into force, about 1,000 textile import tariffs will be cut down to 0%, instead of the current 17-20 %.

Accordingly, the businesses have calculated, the exports growth rate of Vietnam garment to the US will increase to 15 % / year, nearly double the rate of 7-8 % / year at present.

Generally in the first 6 months of 2015, turnover exports of the textile industry continued to grow at 2 figures, reached $12.18 billion, increased 10.26 % compare the same period of 2014. In particular, the United America remains the biggest export market, reached $ 5.1 billion, increased 11 %, accounting for 42 % of total exports turnover; the second market is the EU, reached $ 1.45 billion, increased 8.2 %; Japan reached $ 1.3 billion, increased 7.3 %; South Korea reached 950 million, increased 8.3 %.

According to Vitas, with the export speed as the current, in 2015, textile confidence to reaching export turnover from 27.5 to 28 billion USD.

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