Vietnam Garment Manufacturing Industry Report 2016 - In 2016, the Minimum Wage of Garment Manufacturing Industry in Vietnam is About USD 108 (2.4 Million Vietnamese Dong) Per Month - Research and Markets

DUBLIN, August 2, 2016 /PRNewswire/ --

Research and Markets has announced the addition of the "Vietnam Garment Manufacturing Industry Overview, 2011-2020" report to their offering.

Vietnam has about 6,000 textile and garment manufacturing enterprises with over two million employees and providing job opportunities for over one million workers in relevant industries.

Under the context of global gloomy economy in 2015, the export value of textiles and garments in Vietnam increased by 9.43% YOY being USD 27.2 billion, of which export towards the U.S.A. increased by 11.5% being USD 10.9 billion. The U.S.A. is the biggest export market of Vietnam textiles and garments with a proportion of 40.3% in the total export value. The second goes to Europe with that of 12.5%, Japan with that of 10.2% and South Korea with that of 7.8%.

However, according to the report, about 50%-60% of the garment raw materials of Vietnam depend on import and are mainly imported from China, South Korea and Taiwan, of which over half are from China. For example, only 2%-3% of cotton demanded in Vietnam textile industry is from domestic market, and the output volume of cotton is unstable. Vietnam also lacks local garment design talents and famous garment brands, which have significant development potentials.

In 2016, the minimum wage of garment manufacturing industry in Vietnam is about USD 108 (2.4 million Vietnamese dong) per month. It is relatively low in the world though increases compared to 2015. Considering that the quality of human resources in Vietnam are universally higher than most countries in south-east Asia, the productivity is relatively higher. With regards to manufacturing enterprises of garment raw materials, product enterprises and brand enterprises, Vietnam is a rather good investment destination.

Key Topics Covered:

1 Relevant Concepts of Garment Manufacturing Industry

2 Analysis on Garment Manufacturing Industry in Vietnam, 2011-2015

3 Competition Status of Garment Manufacturing Industry in Vietnam, 2013-2015

4 Analysis on Top 5 Garment Manufacturers in Vietnam, 2013-2015

5 Analysis on Cost and Garment Price in Garment Manufacturing Industry in Vietnam, 2013-2015

6 Prediction on Development of Garment Industry in Vietnam, 2016-2020

Companies Mentioned

- Ha Noi Textile and Garment Joint-stock Corporation
- Nam Dinh Textile and Garment Joint-stock Corporation
- Phong Phu International
- VINATEX
- Viet Tien Garment Joint-stock Corporation

For more information visit http://www.researchandmarkets.com/research/p3r87p/vietnam_garment

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SOURCE Research and Markets