China Is Still The First Place To Import Textile Raw Materials.

In the first quarter of this year, China made up 26.69% of garments in the United States, and Vietnam made 6.99% of the garments in the United States, ranking second.

The industry is worried that the current financial crisis in Vietnam and the depreciation of the Vietnamese shield will affect China's textile exports.

Industry experts believe that the impact of the Vietnam crisis on China's textile exports is partial and limited compared with the global competitiveness of textile trade.

A senior textile textile personage told reporters that Vietnam textile industry has high import dependence on textile raw materials, grey fabric and so on, and China is the main source of imports for these basic products.

For example, in 2007, Vietnam's textile industry consumed about 1 billion 600 million square meters of woven fabrics, of which about 850 million square meters were imported from China, accounting for 53% of the total.

The proportion of knitted fabrics imported from China is also low.

"I believe that because this demand is necessary for Vietnamese garment production and exports and there is no lower cost Import Substitution country, the depreciation of the Dong shield will have a relatively limited overall impact on textile imports under the demand of rigid demand."

The connoisseur said.

Will the accelerated depreciation of Vietnam shield significantly increase textile exports?

"In theory, the depreciation of Vietnam's currency will enhance the competitiveness of its textile exports.

However, it should be noted that in the case of domestic currency devaluation, domestic raw material prices and production costs will inevitably increase the price of local currencies of export commodities.

Wang Qianjin, editor in chief and chief commentator of the first textile network, said: "if the domestic depreciation of the Dong shield makes the price rise of the local currency more than the depreciation of the exchange rate, the depreciation of the local currency will lead to a decrease in exports.

On the contrary, exports increase.

Wang further analyzed: "suppose that the depreciation rate of the Dong shield against the US dollar reached 15% of the industry's recognition this year, and the price of Vietnamese textile exports also increased by 15% because of the increase in domestic raw material prices and the increase in production costs. In this way, the US dollar price of export commodities is unchanged. If we do not consider other competitive factors such as product quality, we will not affect textile exports only from a price perspective."