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Elastic shirts account for big chunk of exports from T&G sector
03
Feb '09
In fiscal year 2008, the elastic shirt earned US$ 2.1 billion worth of export turnover for the Vietnamese textile and garment industry, representing a y-o-y growth of 36.9 percent an official source of Vietnam MOIT said.

The elastic shirt was the biggest foreign currency earning product from the textile and garment industry in 2008, accounting for 23.2 percent of total exports turnover from the sector.

US remained the biggest exporting market, accounting for 77.2 percent of total elastic shirts exported totaling to 456.8 million pieces and amounting to $1.61 billion, a growth of 24.6 percent and 31.7 percent respectively over 2007.

Exports to Japan, Taiwan and Canada witnessed the same trend. Shipments of the shirt to Japan touched 21.9 million pieces worth $82.4 million, up 154.2 and 164.7 percent respectively and Taiwan 24.4 million pieces for $80.1 million, up 126 and 263.4 percent.

Shipments of elastic shirt to Korea in 2008 amounted 2 million pieces, worth $7.7 million, up by 131.4 percent in volume and 141.5 percent in value. Though off course there was a slowdown witnessed in shipments of the shirt to the EU.

Exports of the same to the countries of the European Union stood at 62.7 million pieces amounting to $171.9 million, a drop of 11.1 percent in volume but rose by 19.4 percent in value in comparison with 2007.

Amongst the countries of the EU, exports to Spain rose by 108.2 percent; Italy 88.8 percent; Denmark 84.6 percent; Sweden 83.2 percent; Ireland 48.4 percent and Greece 60.1 percent.

However, exports to some other countries of the EU saw a drop, which includes the likes of Germany down 12.6 percent; Hungary down 22.4 percent; France down 9.4 percent and Poland down 8 percent.

Fibre2fashion News Desk - Vietnam

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