At the 8th meeting of the Vietnam-New Zealand Joint Trade and Economic Commission (JTEC), held in Hanoi on Tuesday, authorities from the two countries discussed various issues related to trade and investment, according to the media.
TexPro, the Fibre2Fashion market analysis tool, showed that apparel exports to New Zealand reached $17.824 million in the first quarter of 2023, compared to shipments worth $16.731 million in the same period a year earlier. Vietnam’s garment exports in the fourth quarter of 2022 reached $17.577 million, while the third quarter recorded $14.148 million and the second quarter recorded $19.433 million.
Vietnam and New Zealand are stepping up cooperation in trade, industry and investment. Vietnam’s garment exports have increased significantly, valued at $17.824 million in the first quarter of 2023 and totaling $67.891 million for 2022. Vietnam is New Zealand’s third-largest garment supplier, contributing 5, 24% to its total clothing imports in the first quarter of 2023.
Annual export value increased to $67.891 million in 2022 from $53.259 million in 2021. Trade volume fell to $39.026 million in 2020 from $44.164 million in 2019 but rebounded to 53.259 million in 2021, with the positive trend continuing in 2022.
Vietnam is New Zealand’s third-largest clothing supplier, after China and Bangladesh. Vietnamese garments accounted for 5.24% of New Zealand’s total garment imports, which were worth $340.419 million in the first quarter of this year. However, New Zealand’s share of Vietnamese garment exports during the same period was less than 0.5%, according to TexPro.
Fibre2Fashion Information Office (KUL)