Business

Clothing exports surge by 28 percent

Export revenue of textiles and garments surged 28.4 percent to 1.05 billion USD in the first month of the year, according to the Ministry of Industry and Trade.
Export revenue of textiles and garments surged 28.4 percent to 1.05billion USD in the first month of the year, according to the Ministry ofIndustry and Trade.

The ministry also reported that productionof woven fabrics made from synthetic and artificial fibers reached 81.8million square metres, a 12.9 percent increase, while clothing foradults also surged 21.6 percent to 184.8 million units. Natural fabricsoutput in January increased 2.2 percent to 22.1 million square metres.

Most Vietnamese garment and textile enterprises reported havingreceived orders to the end of the first quarter. A number of largebusinesses even received orders for the second and third quarters.

The ministry said that this is an optimistic sign for the textile andgarment industry and suggested firms invest more in boosting the imageof Vietnamese products overseas.

Textile and garment producersshould also focus on making their own materials to minimise dependenceon imports, the ministry said.

Vietnam’s textile andgarment industry ailment to grow by 12-15 percent this year and earnexport revenues of 18.5-19 billion USD.

The US is expected toremain Vietnam’s largest textile and garment importer with animport value of 8.5 billion USD, up 11 percent against last year. Exports to Japan and the EU are also estimated to reach 2.4 billionUSD each while shipments to the Republic of Korea are expected to surge15 percent to 1.5 billion USD. -VNA
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