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Vietnam: The 7th largest textile supplier to the EU

8/23/2011 11:15:08 PM

Despite the EU’s textile demand was affected negatively by the sovereign debt crisis in some member countries, Vietnam was still able to keep its market share in EU’s imported textile market

According to Vitas, Vietnam textile export to EU in 2010 is up to USD 1,8bil, increasing 14% over the same period. Besides, its market share also climbed by 1,99% in 2009 to 2,02% in 2010.

Vietnam is ranked as the 7th largest textile supplier to EU textile market.

Due to increasing production cost, Eastern Europe, Northern Africa's market share in EU have been devaluating. For example, Rumani market share decreased from 3,9% to 1,9%, Turkey declined from 7,6% to 6,3%...etc. It is expected that in 2011 and the after coming years, Vietnam will have more chance to increase its market share in the EU market due to its competitor devaluating competitive advantage