The garment and textile sector continues to lead other staples in export turnover, earning over 3 billion USD in the first four months of this year, up by 19 percent compared to the same period last year.
According to the Vietnam Textiles and Apparel Association (Vitas), the garment sector’s export turnover is 1.7 times higher than that of crude oil, the second largest foreign currency earner.
Vitas Chairman Le Quoc An said that the export of garments to key markets such as the US and the EU has increased by 20 percent and 6 percent respectively, creating a momentum for the whole sector to increase its export turnover during the first few months of the year.
The garments sector is also one of the first to recover from the global economic crisis, he said.
Even in 2009 when many global and domestic economies were facing a range of difficulties due to the crisis, the sector still maintained its top spot in the list of Vietnam ’s major export items as its export turnover reached 9.1 billion USD. The figure is expected to increase to 10.5 billion USD this year.
According to Vitas, the export of garments will continue to enjoy a resurgence for a while. At the moment, almost every garments business has a full order book, for larger volumes and at higher prices than two years ago. Several enterprises have also signed orders that will last until the end of the year.
In addition to boosting exports to their traditional markets, including the US and the EU, Vietnamese garments manufacturers are increasing their exports to other ASEAN countries.
Recently, the Viet Tien Garments Company set up agents in Cambodia and Laos and plans to open another in Myanmar in the near future.
Several customers from the Republic of Korea , Taiwan and Hong Kong have ordered made-in-Vietnam garments not only for export but also for domestic consumption, proving the increasing competitiveness of Vietnam ’s garments in the global market-place./.
According to the Vietnam Textiles and Apparel Association (Vitas), the garment sector’s export turnover is 1.7 times higher than that of crude oil, the second largest foreign currency earner.
Vitas Chairman Le Quoc An said that the export of garments to key markets such as the US and the EU has increased by 20 percent and 6 percent respectively, creating a momentum for the whole sector to increase its export turnover during the first few months of the year.
The garments sector is also one of the first to recover from the global economic crisis, he said.
Even in 2009 when many global and domestic economies were facing a range of difficulties due to the crisis, the sector still maintained its top spot in the list of Vietnam ’s major export items as its export turnover reached 9.1 billion USD. The figure is expected to increase to 10.5 billion USD this year.
According to Vitas, the export of garments will continue to enjoy a resurgence for a while. At the moment, almost every garments business has a full order book, for larger volumes and at higher prices than two years ago. Several enterprises have also signed orders that will last until the end of the year.
In addition to boosting exports to their traditional markets, including the US and the EU, Vietnamese garments manufacturers are increasing their exports to other ASEAN countries.
Recently, the Viet Tien Garments Company set up agents in Cambodia and Laos and plans to open another in Myanmar in the near future.
Several customers from the Republic of Korea , Taiwan and Hong Kong have ordered made-in-Vietnam garments not only for export but also for domestic consumption, proving the increasing competitiveness of Vietnam ’s garments in the global market-place./.
