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| Vietnam's textiles and garments have gained US importers' attention due to quality and timely delivery. The US International Trade Commission has noted that in Asia only VietNam and Indonesia can compete against China in exporting these products to the US. |
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Furniture & Wood Fabric & Apparel Plastics Marble & Stone Software Foodstuffs Ceramics Arts & Crafts |
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Vietnam is considered to be the second supply source after China, thanks to its competitively priced workforce and high-quality products, said the US Association of Importers of Textile and Apparel. Further opportunities to import Vietnamese footwear and apparrel are opening as American companies seek contracts in a push to avoid dependence on resources from China.
US footwear imports are forecast to continue rising without fluctuation. While VietNam was the number 8 exporter to the US in 2002, Vietnam has overtaken Thailand, Mexico and Spain to be the fifth. VietNam now follows China, Italy, Brazil, and Indonesia.An increase in the price of footwear and a shortage of laborers in China were cited as reasons for increase in Vietnamese imports, in addition to Indonesia experiencing socio-economic problems over the past few years.
The cost of labor in Vietnam is roughly 20 percent to 40 percent cheaper than in China.