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Vietnam's garment exports on an upbeat
28
Jul '11
Textiles and garment exporters in Vietnam are upbeat as they have already booked export orders enough to keep them busy till year-end, according to the Vietnam National Textile and Garment Group (Vinatex).

Accordingly, textiles and garment exporters are anticipating volume-wise export growth of 20 percent this year, while the prices are expected to grow by 12 to 13 percent.

This would also enable the Vietnamese textiles and garment exports sector to meet its current year's target of US$ 13.2 billion, while registering a year-on-year rise of 18 percent.

During the first half of the current year, Vietnam's textiles and apparel exports to the US, EU, Japan, and Korea maintained a positive trend.

The United States was the largest importer of Vietnamese textiles and garments during January-June period of 2011, accounting for around 51.6 percent of the Vietnam's exports of these goods. The US imported garment and textile items worth US$ 3.18 billion from Vietnam during the period, registering a year-on-year rise of 17.3 percent.

Vietnam's exports to the European markets registering a year-on-year rise of 51 percent grew to US$ 1.16 billion during the same period, while those to Japan grew by 47 percent to US$ 712 million.

Vietnam's exports to the Republic of Korea (RoK) too rose by 78 percent in terms of value, mainly owing to the RoK-ASEAN Free Trade Agreement.

Fibre2fashion News Desk - India

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