Vietnam is targeting an export turnover of US $2.3 billion in 2010, considering an average growth rate of 16.6 percent in the period 2008-10. The removal of quotas on Chinese products beginning from the current year, though off course is expected to make this target a bit difficult for the local exporters.
After the US, EU is now the second largest importer of Vietnam's textile and garment products. In November, Vietnam's export of textile and garment product fell in most markets including in its two large markets of the US and Japan in declining by 16.67 and 15.26 percent respectively as compared to October.
However, Vietnam earned US$139 million in November by exporting textile and garment products to the markets of the EU with a growth rate of 4.91% over October. In the first eleven months of 2008, the export value from the sector to EU stood at $1.53 billion, representing a rise of 13.61 percent compared to same period of 2007.
Among the EU countries, export value to UK reached $ 291.75 million, Austria $55.54 million, Poland $23.65 million and Ireland $11.76 million.
Fibre2fashion News Desk - Vietnam
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