Home / Knowledge / News / Apparel/Garments / Garments become Vietnam's top export item
Garments become Vietnam's top export item
05
Apr '12
Apparel and textile exports have become the biggest foreign exchange earner for Vietnam.

As per the data released by the General Statistics Office, registering a year-on-year rise of 15.4 percent, Vietnam's garment and textile exports were worth US$ 3.23 billion during the first quarter of the current year, making them the country's largest export earner.

During the month of March itself, textile and garments worth US$ 1.15 billion were shipped from the country.

According to the Office, the country's clothing and textiles export growth is quite impressive, particularly when the export markets are contracting due to global economic crisis.

As stated by the Vietnam Textile and Apparel Association (Vitas), the country achieved a steady growth in textile and clothing item exports to traditional markets like the US and Japan during the first quarter of the current year.

With around 52 percent share in Vietnam's overall textile and garment exports, US remained the leading destination for Vietnam's exports during the quarter.

Vitas expects exports to the US to remain positive in the coming months, as unemployment figures in that market are reducing, which is a sign of economic revival.

Vietnam's clothing and textile exports to Japan increased by over 30 percent year-on-year during January-March quarter, as Vietnamese exporters continue to gain from the duty reduction earned under the Vietnam-Japan Economic Partnership Agreement inked in 2009.

In spite of the positive growth achieved by the country's garment and textile sectors, Vitas is worried about the slow moving exports to the EU markets due to eurozone crisis. Though exports to the EU grew by 3.5 percent year-on-year during first quarter, they were far below the last year's growth rate of 33 percent.

In order to offset the export loss to the EU, the Vietnamese exporters are now accelerating their exports to other markets like Russia, Chile, South Korea, Brazil and New Zealand.

Persuaded by the tax reduction benefits available under the ASEAN-South Korea Free Trade Agreement, Vietnamese textile and garment exports to South Korea posted an impressive 55 percent y-o-y growth during the three-month period.

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 20th Sep 2017

India needs to double cotton farmers’ income: top official

India needs to double the income of cotton farmers and non-farmers...

Textiles | On 20th Sep 2017

Pakistan seeks more JVs with China: textile minister

The Pakistani Government wants to forge more joint ventures (JVs)...

Apparel/Garments | On 20th Sep 2017

Egypt’s garment exports touch $941 million in 8 months

Egypt's garment exports touched $941 million in the first eight...

Interviews View All

Rahul Bhadani
Looksgud

Navigating through catalogues is a bit hasslesome

Abhimanyu Singh Rathore & Barbara Anna Kosiorek
Kannbar

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

September 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search