Vietnam'S Demand For Chinese Fabric Expands

According to statistics from the General Statistics Office of Vietnam, Vietnam imported about $14 billion in December 2014, an increase of 9.4% over November and 15.5% over the same month last year.

The total value of Vietnam's imports in 2014 amounted to US $148 billion, up 12.1% from last year, and the value of Vietnam's imports was about US $63 billion 500 million, growing by 10.2%.

The amount of imports was 84 billion 500 million US dollars, an increase of 13.6%.

In 2014, some import products increased higher than last year, including imports of other machinery and equipment and parts of 22 billion 500 million US dollars, an increase of 20.2%.

Imports of US $9 billion 500 million, growth of 14%, oil imports of US $7 billion 600 million, growth of 9.3%, plastic imports of US $6 billion 300 million, growth of 10.9%, textile garments and footwear raw ingredients import 4 billion 700 million US dollars, growth 25.6%, chemical imports 3 billion 300 million dollars, growth 9.5%, cotton imports 1 billion 400 million dollars, growth 1 billion 400 million.

Electronic products, computers and parts imported 18 billion 800 million dollars, grew 6%, telephone and parts imported 8 billion 600 million dollars, grew 6.7%, automobile imports 3 billion 700 million dollars, grew 53.1%, of which the vehicle import 1 billion 600 million dollars, growth 117.3%.

main

For China, the total imports amounted to US $43 billion 700 million, up 18.2% from last year, some of which increased from 2013, including 19.7% growth of other mechanical equipment and parts, 9.5% of telephone and parts imports, and 20.7% growth of fabrics;

Followed by the East Treaty of 23 billion 100 million dollars, growing 8.2%, of which oil grew 21.3%, other machinery and equipment and parts grew 13.7%, wood and wood products grew by 57.7%, South Korea imported about 21 billion 700 million dollars, and grew 4.9%, among which other machinery and equipment and parts grew 9.5%, and cloth grew into 6.9%; Japan was about 12 billion 700 million dollars, growing 9.4%; the European Union was about US dollars, reducing the number of products.

As the import volume decreased by 708 million US dollars in November 2014, the surplus was 438 million US dollars in November.

The surplus is expected to be about US $2 billion in 2014, of which the foreign capital surplus is US $17 billion, and the surplus enterprise deficit is US $15 billion.

Related links:

China is no longer a cheap clothing country, because in the coastal area's main clothing industry center, the wages of the workers are about 500 dollars a month, and the inland area is 250 dollars, so in recent years, foreign clothing retailers have pferred the factory to Bangladesh and Burma.

The clothing industry in Bangladesh has grown to $25 billion and employs 4 million 400 thousand workers.

Burma is US $5 billion 500 million, providing 650 thousand of employment opportunities.

But in these cheap clothes - making countries, workers are starting to fight to get higher wages.

After a labour dispute, Burma raised the monthly salary of workers to 68 dollars, an increase of 77%.

In November 2014, the Ministry of labour of Bangladesh raised the minimum monthly salary of clothing workers to $128, an increase of $75, and the monthly salary was almost two times that of Burma.

For the giants of the global apparel industry from these countries (e.g. H&M, Inditex and WAL-MART), the slight increase in the wages of these countries is minimal for the entire business model, because they include marketing, pportation, sales, customs duties and taxes, which account for only 2% to 3% of the total production cost.

The rise in wages has further reduced the profits of local garment companies.

However, these garment retailers have found areas to replace Asia as production centers.

H&M, Tesco and Primark have already begun to purchase from Ethiopia, because there is no minimum monthly salary limit, and for unskilled workers, the monthly salary is only 35 to 40 dollars, much lower than that in Burma.

These foreign clothing merchants are very popular in African countries, and they also benefit a lot from the abundant local labor force and energy.

The clothing industry in Kenya is also developing. Although the country's monthly salary is about 120 dollars, the government has attracted the foreign businessmen with abundant rewards.