South Korea’s textile imports from Vietnam continue to rise
According to statistics from relevant departments, in the first four months of this year, South Korea imported US$380 million in textiles and clothing from Vietnam, a year-on-year increase of 50%. Judging from the 50% increase in the first four months, South Korea’s textile and apparel imports from Vietnam may exceed US$1 billion in 2012.
In 2011, South Korea’s textile and clothing imports from Vietnam reached US$904 million, an increase of 145% compared with 2010, the highest growth rate so far. According to data, South Korea has become a major investor in Vietnam’s textile and apparel industry with 450 companies and a total agreed investment of US$1.8 billion. It is also Vietnam’s fourth largest textile and apparel export market.
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