Home / Knowledge / News / Apparel/Garments / Garment exports post remarkable growth
Garment exports post remarkable growth
07
May '10
The exports of garment and textile sector stood at US $3 billion in the first four months of the current year, recording a 19 percent growth against the corresponding period the previous year. With such an earning, the garment and textiles sectors continue to dominate the market in export turnover, among other staples.

The export turnover of this sector is around 1.7 times higher than that of crude oil, which holds the second position among the largest foreign currency generating sectors, informed, Vietnam Textiles and Apparel Association (VITAS).

Garment exports to major markets such as US and the European Union (EU) have witnessed 20 percent and 6 percent surge, respectively, thereby improving the sector's export turnover during the first few months of the year, as per VITAS Chairman, Le Quoc An. He also said that, this is one of those sectors which showed early recovery from the global economic crisis.

Even during economic crisis i.e. in 2009, the sector had earned an export turnover of $9.1 billion maintaining its top position. This year, the export turnover of this sector is likely to reach to $10.5 billion as the industry entrepreneurs have scores of export orders and many of them have big orders, which is likely to last till the end of the year.

The garment manufacturers of the country are boosting up their trades to other ASEAN countries along with their regular markets, such as US and EU. Pertaining to this, the Viet Tien Garments Company has recently positioned offices in Cambodia and Laos and has plans of setting up one more in Myanmar.

With mounting competitiveness in the global market, Vietnamese apparels are receiving a number of orders from South Korea, Taiwan and Hong Kong.

Fibre2Fashion News Desk - India

Must ReadView All

Apparel/Garments | On 24th Apr 2017

ColDesi launches latest direct to garment printer

ColDesi, a pioneer in the direct to garment printer business, has...

Textiles | On 24th Apr 2017

US’ textile manufacturers applaud Buy American order

US' National Council of Textile Organisations has favoured President...

Courtesy: NASA/JPL-Caltech

Textiles | On 24th Apr 2017

NASA designing advanced woven metal fabrics for space

Scientists at NASA are designing advanced woven metal fabrics for a...

Interviews View All

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

C. Dhandayuthapani
Mag Solvics Pvt. Ltd

ITME 2016 exploited our full strength like never before

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Silke Brand-Kirsch
Schlegel und Partner

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

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

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
April 2017

April 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search