Recent changes in the world's textile production and export markets

The Vietnam Textile Association recently stated that due to the increase in labor costs, the world textile production and export markets have undergone major changes. Exports of textiles from Mexico, Romania, Turkey and other countries accounted for a large decline in world market share, while those of China, Vietnam, and Bangladesh increased. China’s share has risen from 33.2% in 2008 to 40% today; at the same time, Bangladesh has increased from 2.5% to 3%; Vietnam has increased from 1.7% to 2.5%.