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Garment sector posts an increase in export revenues
02
Jun '08
Sai Gon Garment Joint Stock Company of Vietnam, one of the few garment companies, listed in local stock market, recently reported an earning of US $5.3 million in the first quarter of 2008.

The results were remarkable showing a year on year increase of 49.64 percent despite the fact that the overall market scenario of Vietnam has been grim.

The net profit generated by the company amounted to $0.25 million during the same period, up by 48.1 percent than the same period last year.

During the first quarter of 2008, textile and garment exports to Taiwan alone, witnessed a mixed trend, as demand for some products increased. The nation exported nearly 897 thousand pieces of shorts, showcasing a significant rise of 117 percent and earned around US $2.6 million, a boost of 132 percent over the same period of 2007.

Vietnam exported approximately 4 million elastic shirts of all varieties, an increase of 59 percent. It generated revenue of more than $9 million surging by 56 percent. The demand of kids wear and denim trousers also rushed up in Q1.

The accessories including handbags, hats and umbrellas reaped $12.98 million in January and February and $4.946 million in second month of 2008.

The textile and garment industry of Vietnam on the whole is in a better condition compared to those of other countries who are severely affected by slow down of US economy, stagnant exports, inflation, rising cost of production and a host of other related issues.

Fibre2fashion News Desk - Vietnam

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