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US$ 1.76 billion worth of apparel, leather and footwear materials imported in the first second quarters

Friday, 02/08/2013, 14:40 GMT+7

US$ 1.76 billion worth of apparel, leather and footwear materials imported in the first second quarters

  At present, Vietnam ranks second in the world in exporting leather and footwear products, after China. However, Vietnam has to import up to 80 per cent of the total materials for producing leather and footwear products, mostly from China. In the first second quarters of this year, Vietnam’s import of apparel, leather and footwear materials was at over US$ 1.76 billion, increased by 17.24 per cent over the same period last year.

The import of apparel, leather and footwear materials from China in the first half of this year accounted for up to 31.74 per cent of the total with the import value of $ 559.89 million, rose by 24.19 per cent year – on – year.

 The country is waiting for opportunities for leather and footwear export from the talks on TPP (Trans - Pacific Partnership) as well as the Free Trade Agreement (FTA) between Vietnam and EU, which is expected to come effect as from the middle of 2014. Then, the import tax rates on several items of Vietnam in EU and other TPP participants will be 0 per cent or nearly 0 per cent instead of 17 to 30 per cent now. However, in order to enjoy those preferential import tax rates, the exporters must meet non easy requirements on origin. Ordinarily, the importing countries accept the products using 60 per cent of domestic materials or materials imported from TPP members. But Vietnamese leather and footwear enterprises use mostly materials imported from China, which still not TPP member, so our products will not enjoy the preferential import tax rates for TPP members exporting goods to the U.S.

The country’s import of apparel, leather and footwear materials in June fell by 21.13 per cent in value over the previous month to $ 308.43 million. The import from China decreased by 28.19 per cent to $ 92.38 million; from South Korea – down by 7.35 per cent to $ 66.72 million; from Taiwan – down by 26.13 per cent to $ 33.91 million; and from Hong Kong – down by 41.43 per cent to $ 15.08 million.

Especially, the import of apparel, leather and footwear materials from Austria in June fell sharply by 80.48 per cent over the previous month to $ 121,256 million, after skyrocketing by 1,086 per cent in May compared with April.

 

However, the import of those materials from Britain and the Netherlands in June rose sharply by 78 per cent and 45 per cent, respectively over the previous month. 

 

In spite of falling by 21.13 per cent in June, but in the first six months of this year, the country’s import of apparel, leather and footwear materials still increased by 17.24 per cent over the same period of 2012 as the import from several markets rose. The import from New Zealand increased by 118.6 per cent to $ 15.72 million; that from Argentina – up by 51.19 per cent to $ 18.62 million; and from Italy – up by 40.96 per cent to $ 58.35 million.

However in the first half of this year, the import of materials from Canada and Poland decreased sharply by 48.41 per cent and 34.77 per cent, respectively over the same period last year. 

 

07_05_2014_2_48_52_CH

Vietnam’s main import markets of apparel, leather and footwear materials in June and the first six months of 2013

 Unit: US$


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