Garment products continued to lead Vietnam’s export staples, bringinghome 11.7 billion USD in the first ten months of 2011, an increase of29.4 percent over the same period last year.
According to insiders, together with stable and high-value orders, thetrend of shifting garment supply markets from Eastern Europe to Asiacountries, including Vietnam, has created conditions for the garmentsector to significantly increase exports.
Statistics from the General Department of Customs showed that garmentexport growth was seen in almost all markets and especially the US,which imported nearly 5.2 billion USD worth of Vietnamese garmentproducts in the first nine months of this year, up 15.2 percentyear-on-year.
Vietnam’s garment exports to theEU and Japan reached 1.92 billion USD and 1.22 billion USD,respectively, marking impressive increases of 43.7 percent and 52.8percent.
Taking advantage of tax reductions underthe Free Trade Agreement between the Republic of Korea (RoK) andASEAN, Vietnam earned 631 million USD from garment exports to theRoK in the nine-month period, a 2.4 fold rise over the same period lastyear.
Exports to these markets accounted fornearly 20 percent of the whole sector’s total export turnover, comparedto 10 percent in previous years.
With thesepositive developments, Vietnam’s garment export turnover is forecast toreach 13.7 billion USD this year, representing a year-on-year increaseof 20.5 percent and exceeding the early target by 500 million USD./.