Home / Knowledge / News / Apparel/Garments / Vietnam's garment & textile trade surplus soars
Vietnam's garment & textile trade surplus soars
12
Sep '12
Posting a year-on-year rise of 24 percent, Vietnam’s textile and garment sector surplus for initial eight months of the current year grew to US$ 5.3 billion, the Vietnam Textile and Garment Association (VITAS) said.
 
VITAS attributed the rise in trade surplus to reduced raw material imports during the eight-month period.
 
Vietnam’s garment and textile exports for the period increased by 6 percent year-on year to US$ 10.8 billion, and the sector now tops the list of country’s top 10 export items, VITAS said.
 
During the first seven months of the current year, for which figures are available, apparel and textile exports from Vietnam to the US increased by 10.6 percent year-on-year to US$ 4.2 billion, and that to Japan by 23 percent year-on-year to over US$ 1 billion.
 
The rise in exports to the US and Japan  would balance the drop experienced by the sector in its exports to the EU, which decreased by about 4 percent to US$ 1.3 billion from same period last year, according to VITAS.
 
Having already achieved exports worth US$ 10.8 billion, Vietnam’s garment and textile sector is well on course to achieve its export target of US$ 15 billion set for the current year, VITAS Secretary General Dang Phuong Dung said.
 
Meanwhile, aiming to tap new markets or expand in existing markets, the Ministry of Trade and Industry is launching trade promotion campaigns in Thailand, Hong Kong, Malaysia and several other countries.
 

Fibre2fashion News Desk - India


Must ReadView All

Apparel/Garments | On 22nd Sep 2017

Govt announces new duty drawback rates for garments

The Government of India has today announced the new duty drawback...

Courtesy: ITMA

Textiles | On 22nd Sep 2017

ITMA 2019 to focus on smart garment technologies

ITMA 2019, the world's largest textile and garment technology...

Apparel/Garments | On 22nd Sep 2017

New US FTC rule for RN used on textile product labels

The US Federal Trade Commission recently streamlined requirements...

Interviews View All

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Kaizad Hansotia
GetNatty

Competition is the best thing that can happen to a startup

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

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