The Vietnam Textile and Apparel Association (VITAS) said that the garment and textile sector exports will grow an average of 11.5 per cent per year from now till 2020. According to the VITAS reports, the sector is expected to generate export revenue of US$27.5 billion this year, and increase this value to $31 billion next year and $45 billion to $50 billion by 2020. Vietnam's garment and textile exports totalled $20 billion in the last nine months of this year, an increase of 10 per cent o

Pakistan local textile industry badly affected by the surge in import of man-made fibre (MMF) yarns, including polyester, acrylic and fabric, in the domestic commerce. The import of MMF yarns has surged to 72,300 tonnes in 2014-15 against 47,700 tonnes in 2012-13. Similarly, the import of fabric made from MMF yarns has also reached to 562,000 square metres in 2014-15 against 180,000 square metres in 2012-13, according to the Acting Chairman Shahid Mazhar of All Pakistan Textile Mills Association

At the two-day Taiwan Textile Fair (TTF) organized by Taiwan Textile Federation, supported by the Tirupur Exporters Association (TEA), and the Confederation of Indian Textile Industry (CITI) held from Dec 1 to 2 in India-Bengaluru , the Taiwan Eco Textiles to promote green environment encouraged textile manufacturers to make use of Polyethylene terephthalate (PET) bottles to spin yarn . The environmental edge of PET bottle polyester fibres is that they are recyclable, according to Taipei Econ

Trading activity at Pakistan cotton market showed improvement on Tuesday fearing rise of short supply, according to dealers. In Sindh, seed cotton prices were at Rs 2200 and Rs 2800 and in the Punjab, rates were at Rs 2300 and Rs 3000. The official spot rate was down by Rs 50 to Rs 5,300. In the ready business, deals of over 14,000 bales of cotton finalised between Rs 5125 and Rs 5600. Dealers said. According to cotton analyst, Naseem Usman, there is no fundamental change to observe just

Vitas reports said the sector is expected to generate export revenue of US$27.5 billion this year, and increase this value to $31 billion next year and $45 billion to $50 billion by 2020. In the first nine months of this year alone, Viet Nam's garment and textile exports totalled $20 billion, an increase of 10 per cent over the same period last year. Vu Duc Giang, who was voted chairman of the Vitas at a congress last week, said that global integration will facilitate Vietnamese garment

THE International Monetary Fund (IMF) executive board has decided to include the Chinese currency, the yuan, to its Special Drawing Rights (SDR) basket, marking a milestone in the renminbi (RMB) global march and a vote of confidence in China's ongoing financial reforms. During a meeting on the regular five-yearly review of the SDR basket, the IMF executive board, which represents the fund's 188 members, decided that the RMB "met all existing criteria," the Washington, D.C.-based international

Cambodia’s garment industry continued to perform “solidly” through the first half of the year, allaying fears that recent minimum wage increases would cripple one of the country’s main economic engines, according to the latest figures released by the International Labor Organization (ILO). According to its latest industry bulletin, drawing on data from the Ministry of Commerce, garment exports over the first half of the year hit $3 billion, growing 12.7 percent over the same period last year.

Pakistan is buying more cotton than expected from India after floods cut its own crop to the smallest in over a decade, opening an opportunity for the world’s biggest producer to offload its bulging stockpiles. Farmers in India have struggled to find buyers over the past year after the world’s top cotton consumer China cut import quotas to stimulate demand for its own fibre. The problem has been further exacerbated by near record high Indian output. But the recent flurry of purchases by Pa

The American economy expanded at a faster pace in the third quarter than previously reported, growing at a 2.1 per cent, the government said. The 2.1 per cent GDP growth turned out to be higher than an initial estimate of 1.5 per cent, according to an agency report quoting the Commerce Department report. The report of the Commerce Department also showed corporate profits slumped while worker incomes rose. The consumer continues to power the US economy, with cheap petrol giving households t

Pakistan Readymade Garments Manufacturers and Exporters Association (Prgmea) Chief Coordinator Ijaz A Khokhar urged the prime minister to intervene and frame a policy for a reduction in input costs, otherwise industrial units would not only close down, but millions of workers would also lose their jobs. The government need to address the problems of the value added textile industry sector on an urgent basis as there is a sharp drop seen in the current exports of textile and clothing during the f