Clothing made by workers of Binh Minh Garment JSC in HCM City. (Photo: VNA) Hanoi (VNS/VNA)- The country’s textile-garment export turnover reached 4.89 billion USD overthe past two months, up 19 percent year-on-year, according to the Ministry ofIndustry and Trade (MoIT).
Among products recordingsignificant export growth included fabrics made from natural fibers at 14 percent,fabrics from synthetic fibers at 14 percent and clothing at 11 percent.
The ministry attributed the period’s positiveperformance to the fact that many businesses had received orders for the firstsix months of this year or even the whole year.
Sharing the MoIT’s assessment, Chairman of the HCM City Textile and Garment -Embroidery Association Pham Xuan Hong said he believed that theprospects of domestic textile and garment industry were quite positive thisyear thanks to adequate orders from foreign partners.
Nguyen Van Can from the HCM City-located 28 Corporation told the onlinenewspaper congthuong.vn that thanks to positive market demand, itsmember companies and subsidiaries had won contracts for the firstquarter.
As well as a rising number of orders, Vietnamese textile and garment goodshad become more attractive to foreign customers thanks to their strongcompetitiveness in terms of quality and price compared to those of rivalcountries in the region, according to trade experts.
The supply chain, which had been gradually completed thanks to increasing flow of capital invested in the textile anddyeing industry and free-trade agreements Vietnam had inked with severalcountries and blocs, had made Vietnamese garment products much more attractive,they said.
The textile and garment industry would likely generate 40 billion USD fromexports by the end of this year, up 10.8 percent year-on-year, the VietnamTextile and Apparel Association (VITAS) has forecast.
The industry’s trade surplus was expected to reach 20 billion USD this year.Employment would be ensured and income for 2.85 million workers would beincreased, said VITAS.
These targets were based on a successful year in 2018, when export turnover ofgarments and textiles products reached more than 36 billion USD, marking ayear-on-year increase of 16 percent. This level of growth would make the nationone of the top three largest exporters of textiles and garments in the world.-VNS/VNA
VNA
