With a greater number of developing countries manufacturing and exporting textile goods and traditional trade partnerships across the world facing uncertainties due to political and humanitarian crises, the face of apparel manufacturing is changing around the world. Details on these changes are some of this week’s featured stories on BizVibe. BizVibe is the world’s smartest B2B marketplace and allows users to connect with over seven million companies around the globe.

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The dynamics of apparel manufacturing are changing globally (Graphic: Business Wire)

The dynamics of apparel manufacturing are changing globally (Graphic: Business Wire)

Vietnam’s Textile and Apparel Exports Experiencing Growth

Though Vietnam’s textile and apparel industry is experiencing a lack of raw materials, its exports have begun to increase. The total export value of the textile and apparel industry in Vietnam reached USD 27.2 billion in 2015, an increase of 9.43% from the previous year.

The textile labour costs in Vietnam are still relatively low, giving the country an advantage in terms of price competitiveness. The number of textile jobs in the country are expected to rise as the value of exports rises and allows companies to employ more people.

Connect with fabrics and textiles companies in Vietnam listed on BizVibe

Global Value of Textile Exports Decreases

According to the World Trade Organization (WTO), the global value of textile exports declined by 7.2% in 2015 from the previous year. This is the first time that this value has declined since the 2009 global financial crisis.

The WTO suggests that this is a result of economic slowdown in Russia and Brazil, strong fluctuations in exchange rates, and financial volatility driven by divergent monetary policies in developed countries. Despite this decrease, China, the European Union, and India remain the top three exporters of textiles. Additionally, an increasing number of developing countries have begun exporting to developed countries for apparel manufacturing purposes.

Connect with nearly 35,000 fabrics and textiles companies listed on BizVibe

Textile Market in Turkey Making New Connections

Turkey is making efforts to establish new trading partners due to uncertainty about their future doing trade with the US and the EU. In 2015, textiles and clothing products accounted for 19.2% of Turkey’s total exports.

Additionally, ISIL taking control of the majority of cotton fields in Syria, traditionally one of Turkey’s largest suppliers of raw materials for the textile industry, is encouraging Turkey to increase their domestic production of cotton and find new countries to supply raw materials.

Connect with 225 fabrics and textiles companies in Turkey listed on BizVibe

In addition to these segments, BizVibe is also home to 50,000+ apparel and textile companies across 200+ countries, covering all sectors. The BizVibe platform allows you to discover highest quality leads and make meaningful connections in real time. Claim your company profile for free and let the business come to you.

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