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US citizens buying more Vietnamese textiles and garments
18
Jul '11
It seems that the US citizens are buying more textiles and garments manufactured in Vietnam, as Vietnam's textiles and garment export to the US registering a year-on year rise of 18.8 percent grew to US$ 2.5 billion during the initial five months of current year.

Textiles and garments sector retained its top position as Vietnam's leading export item to the US, as per the July report released by the US Census Bureau.

Footwear, and furniture and beddings exports too, witnessing a growth of 30 percent and 4.6 percent jumped to US$ 787.4 million and US$ 683.4 million, respectively.

During the same five-month period, among US's exports to Vietnam, cotton including yarns and woven fabrics posted highest year-on-year rise of 189 percent to grow to US$ 246.7 million.

For the period, Vietnam's overall exports to the US showed a 21.7 percent increase and jumped to US$ 6.5 billion, while US's exports to Vietnam soared by 22 percent to US$ 1.78 billion.

The overall trade turnover between the two economies with a year-on-year rise of 21 percent almost touched US$ 8.3 billion.

If the existing trade growth momentum between the two countries continues through the rest of 2011, the current year's trade turnover will likely post an increase of 10 percent over 2010's US$ 18.3 billion.

Fibre2fashion News Desk - India

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