The Vietnamese textile industry exports of 36.2 billion US dollars, 2018 was the most successful year for the Vietnamese textile and clothing industries. Considering the trade war between China and the USA, the year 2019 brought both chances and challenges for Vietnam. In the first six months, the export of the sector to the USA increased by 29%. The sales revenues in the US American market amounted to approx. 7 billion US dollars. This represents 46% of the total revenues. The country has high exports but low imports. To reduce the surplus, US President Donald Trump threatened to impose punitive tariffs on Vietnamese products at the G 20 Summit in June 2019. Additional levies would have a great impact on the Vietnamese economy, because the USA is the most important market for this Asian country.
The local textile and clothing market is dominated by imports from China. International textile groups still set up subsidiaries and affiliated companies. Today, the value of foreign direct investments in the country’s textile industry exceeds 18 billion US dollars. This situation is also reflected by the warp-knitting sector.
Reliable partners
KARL MAYER and ILLIES have closely accompanied the development of the country to the world’s third largest exporter of textiles and apparel. KARL MAYER assists its clients with innovative textile machines, with technology know-how, competence in textile development and support in tapping market potential. This global player has already carried out more than 1,100 machine installations at more than 100 customers in the Vietnamese economic area.
“Together with our partner ILLIES Engineering Vietnam, we have a strong team that offers customers optimal support in the areas of machine sales, after-sales and service”, explains Rainer Müller Sales Director Asia at KARL MAYER.
“Our goal is to make our customers successful. We are working hard to develop new, innovative products with a high level of customer benefit. Only recently at ITMA in Barcelona we presented innovative machines, textile developments and digital solutions, which should help our customers to create new products and open up new markets”, stressed Arno Gärnter, KARL MAYER’s CEO, in his speech at the customer event.
Together with their customers, KARL MAYER and ILLIES raised their glasses to the successes obtained, and enjoyed an entertaining evening with long-time business partners and friends.
