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Vietnam's garment & textile exports soar in Jan 2013
07
Feb '13
The exports of apparels and textiles from Vietnam showed a sharp increase of 28.4 percent year-on-year and rose to US$ 1.05 billion in January 2013, data released by the Ministry of Industry and Trade showed.
 
During the month, production of fabrics from natural fibres like cotton increased marginally by 2.2 percent year-on-year to 22.1 million sq m, while output of woven fabrics from man-made or synthetic fibres increased by 12.9 percent year-on-year to 81.8 million sq m. 
 
Similarly, apparel production jumped 21.6 percent year-on-year to 184.8 million units in January 2013.
 
Most Vietnamese clothing and textile firms have bagged orders sufficient to last for the first quarter, whereas many large businesses have received orders even for the second and third quarters, according to the Ministry.
 
The Ministry termed the January export figures and the garment and textile firms having orders for the next two months as an optimistic sign and suggested apparel and textile enterprises to invest more in boosting the image of Vietnamese apparels in export markets.
 
At the same time, Vietnamese textile and clothing manufacturers should minimize their dependence on imports by investing in raw material production, the Ministry said.
 
Vietnam’s clothing and textile industry is expected to grow at 12-15 percent this year to about US$ 18.5-19 billion.
 
In 2013, the US is likely to import Vietnamese garments and textiles worth US$ 8.5 billion, up 11 percent year-on-year. 
 
Vietnam’s apparel and textile exports to the EU and Japan are expected to fetch US$ 2.4 billion each, while exports to South Korea are likely to rise by 15 percent year-on-year to US$ 1.5 billion.
 

Fibre2fashion News Desk - India

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