VIRAC's researchers feature comprehensive outlook of Vietnam textile and garment industry in 2015
Vietnam Textile and Garment Standard Report 2015

Vietnam Textile and Garment Standard Report 2015


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  • Pages: 82
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Executive Summary

A severe decline of textile industry in 2009 caused by the global crisis has brought both advantages and disadvantages for Vietnam. Hence, this report comes up with in-depth analysis of Textile and Garment worldwide and Vietnam after the financial crisis. In the next five years, the emerging markets with large size of population such as China and India are expected to increase significantly in both demand and supply quantity, whereas the figures for developed countries are estimated to decelerate. The factory shift from China to Vietnam also accelerates thanks to political stability and cheap labor cost. This situation offers Vietnam a valuable opportunity to boost the textile and clothing export turnovers in the upcoming years.

VIRAC's researchers feature comprehensive outlook of Vietnam textile and garment industry in recent years by covering all contributing factors, including macroeconomics situation, related government policies, the projected effect of FTAs, and the nature of the industry. Among the recent foreign trade agreements, TPP, VKFTA and EVFTA are the most influential to the industry. Together with the attractive tax reduction from strategic partners, Vietnam has to deal with restricted rules of origin, labor standards, and technical trade barriers. In order to enjoy the tax incentives, Vietnam needs to enhance domestic production capacity, especially in some weak stages, to achieve sustainable growth.

The report uses a value chain approach to Vietnam's Textile and Apparel industry. Vietnam mainly has advantages in sewing and spinning stages which are relatively labor-intensive and bring low added-value. Moreover, in several years, it still faces shortage of raw materials and mostly depends on imported sources. Local production of cotton, fibers and fabrics fail to meet the demand of domestic clothing manufacturing companies in terms of both quality and varieties. Though being one of the biggest apparel exporters in the world, the industry only contributes a small percentage to Vietnam's annual GDP. Domestic apparel market is small, estimated to be 3 billion USD, and dominated by foreign goods. Only a few local companies succeed in building their brands and distribution network since most enterprises are yet to pay sufficient attention to R&D.

Additionally, extensive analysis and forecasts are contained for the period 2016 until 2020. The report also points urgent goals of Vietnam and compares the financial performance of leading enterprises in domestic apparel market between 2013 and 2014.

This report covered key points:

Root elements that affect deeply business environment.

Detailed data on all fields of Vietnam textile industry and the global garment market, including but not limited to:

World T&G trade, Cotton, Fibers, Fabrics production and consumption;

Labor cost of some main processing countries (India, China, Vietnam, etc.);

T&G trade among TPP countries;

Average import/export tax of TPP's countries;

FDI structure in textile industry;

Vietnam's T&G export turnovers;

Domestic production and consumption of cotton, fibers/yarns, fabrics, apparel, etc.;

Total export/ import value of Vietnam;

Financial statements of leading domestic players in the industry.

Textile and Garment Value Chain.

Industry's Potentials and challenges of Vietnam based on particular strategy models.



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List of abbreviations

Executive Summary

I. Business environment

1. Macroeconomic situation

Figure 1. Vietnam GDP and GDP growth rate

Figure 2. GDP per capita and GDP per capita growth rate

Figure 3. Vietnam total import value

Figure 4. Vietnam total export value

Figure 5. VND/CNY exchange rate

Figure 6. Main import products from China in 2015

Figure 7. Main import products from China in 2015

Table 1. Oil refine projects currently built in VN

Figure 8. Vietnam retail sales

Figure 9. Share of modern retail in total retail

Table 2. Top retailers in Vietnam market

2. Government Policies Relating to the industry

Table 3. Vietnam's import tariff before and after WTO

II. Industry Overviews

1. Global Textile and Garment Industry

1.1. Global Textile and Garment Value Chain

1.2. Spinning

Figure 10. Global yarn production and consumption

Figure 11. Cotton, cotton yarn and polyester filament indices

Figure 12. Fiber application of the world in 2014

Figure 13. World fiber trade 2010-2014

Figure 14. World fiber export structure in 2014

1.3. Weaving, dyeing and finishing

Figure 15. World fabric production in 2014

Figure 16. World fabric trade in 2010-2014

1.4. Sewing

Figure 17. Global textile and apparel market size

Figure 18. Global Textile and Apparel trade

Figure 19. Top 10 T&A exporters

Figure 20. Top 10 T&A importers

Figure 21. Global T&A trade breakdown

Figure 22. Global apparel trade

Figure 23. Apparel market size by countries

Figure 24. Spending on apparel per capita

Figure 25. Average wage in textile sector 2014

Figure 26. Minimum wage 2016

2. Vietnam's Textile and Garment Industry

2.1. Overview

Table 3. General Information of Vietnam's T&G industry

Table 4. Textile and Garment enterprises of Vietnam

Figure 27. Geographical distribution of textile businesses

2.2. Spinning

Figure 28. Fiber production in 2010-2014

Figure 29. Fiber consumption volume and value in 2010-2014

Figure 30. Vietnam fiber and yarn exports

Figure 31. Yarn and fiber export by countries

Figure 32. Yarn and fiber import by countries

Figure 33. Number of spindles, rotors of Vietnam

Table 5. Vietnam's synthetic fibers companies

2.3. Weaving, dyeing and finishing

Figure 34. Vietnam's fabric production during 2010-7M/2015

Figure 35. Vietnam fabric consumption

Figure 36. Vietnam fabric production by inputs

Figure 37. Fabric import by countries/regions

Figure 38. Vietnam fabric export and import

Table 6. Selected Textile Dyeing Wastewater indicators

2.4. Sewing

Figure 39. Apparel production 2010-6M/2015

Figure 40. Domestic apparel market share

Figure 41. Vietnam apparel export

Figure 42. Apparel exports of FDI and domestic businesses

Figure 43. Apparel export structure in 2014

Table 7. Shipment/delivery periods of selected countries

Figure 44. Inventory indexes of textile and apparel industry

III. Industry's potential and risk analysis

1.1. Industry's development plan

Table 8. Some criteria of T&G industry's development plan

1.2. Forecast and potential assessment

Figure 45. Vietnam T&G export turnover forecast

VI. Industry's key players

1. Key players in Garment Industry

Table 9. Top 09 enterprises with the highest Total asset value of Vietnamese textile industry

Figure 46. Net revenue 2014-2014

Figure 47. Gross profit 2013-2014

Figure 48. Net profit 2013-2014

Figure 49. Financial cost 2013-2014

Figure 50. Cost of sales 2013-2014

Figure 51. General and administrative expenses 2013-2014

Figure 52. Asset structure 2013-2014

Figure 53. Debt structure 2013-2014

Figure 54. Account Receivables 2013-2014

Figure 55. Inventory 2013-2014

Table 10. Liquidity and Profitability of nine selected garment enterprises

Table 11. Cash flow of 9 enterprises in 2013-2014

Table 12. Cash conversion cycle of 9 enterprises in 2014

2. Key players in Textile Industry

Table 13. Top 05 textile enterprises of Vietnam with largest net revenue (VND billion)

Figure 56. Net revenue 2014-2014

Figure 57. Gross profit 2013-2014

Figure 58. After tax profit 2013-2014

Figure 59. Financial cost 2013-2014

Figure 60. Cost of goods 2013-2014

Figure 61. General and administrative expense 2013-2014

Figure 62. Asset structure 2013-2014

Figure 63. Liabilities structure 2013-2014

Figure 64. 2013-2014 Accounts receivable

Figure 65. 2013-2014 Inventory

Table 14. Some financial indicators

Table 15. Cash flow

Table 16. Cash conversion cycle

V. Conclusion

Reference

Appendix

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Viet Tien Corporation

Nha Be Garment Corporation

Hoa Tho Textile and Garment Corporation

Song Hong Garment JSC

May 10 Corporation

Duc Giang Corporation

TNG Investment and Trading JSC

Sai Gon Garment Trading Manufacturing JSC

Dong Nai Garment Corporation

Phong Phu Corporation

Thanh Cong Textile Garment -Investment -Trading JSC

Viet Thang Corporation

Century Synthetic Fiber Corporation

Hue Textile Garment JSC

Vietnam Textiles Industry

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