Business

Textiles, garment exports to major market grow

Vietnam witnessed growth in textiles and garment exports to most of the major markets in the first five months of 2018, reported the General Department of Vietnam Customs.
Textiles, garment exports to major market grow ảnh 1Vietnam registered a growth in textile and garment exports to most of the major markets in the first five months of 2018. (Source: laodong.vn)

Hanoi (VNS/VNA) - Vietnam witnessed growthin textiles and garment exports to most of the major markets in the first fivemonths of 2018, reported the General Department of Vietnam Customs.

Exports of textiles and garments to the marketsof the member countries of the Comprehensive and Progressive Agreement forTrans-Pacific Partnership (CPTPP) accounted for 17.1 percent of the country’stotal garment export turnover, reaching 1.87 billion USD.

Exports to Japan saw the highestincrease at 22.6 percent, reaching 1.39 billion USD. The exports to Singaporerose by 22 percent to 39.16 million USD, to Canada by 17.4 percent, reaching 230.29million USD and to Australia by 16 percent, touching 79.41 million USD.

The CPTPP will come into effect in early 2019and is expected to open a great opportunity for the Vietnamese textile andgarment industry, pushing its export value up by 3 to 6 percent per year.

According to the General Department of VietnamCustoms, the January-May period saw the national textile and garment exportgrowth reach 16.2 percent year-on-year to 10.91 billion USD, accounting for11.2 percent of the total export value of Vietnam.

It said the value to almost all the majormarkets increased against the same period last year. The United States was thelargest export market for Vietnam’ textile and garment products, with a growthof 12.4 percent in value, reaching 5.15 billion USD.

It was followed by the European Union with agrowth of 12.1 percent to 1.43 billion USD; Japan, up by 22.6 percent to reach 1.39billion; and the Republic of Korea, up by 22 percent to touch the 1.09 billionUSD mark.

Meanwhile, the exports to Turkey jumped sharplyby 96.8 percent, reaching 19.23 million USD; Poland, 69.3 percent, reaching 23.43million USD; Myanmar, 65.9 percent, reaching 9.19 million USD; Egypt, 65.2 percent,touching 2.33 million USD; Hungary, 60.4 percent, reaching 1.84 million USD.

The garment and textile exportsof foreign-invested enterprises accounted for 60.6 percent of the total garmentexport value, reaching 6.62 billion USD, up by 16.8 percent over the sameperiod last year.-VNS/VNA
VNA
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