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Clothing exports may overachieve 2010 targets
03
Sep '10
In the first eight months of 2010, exports from the textile and garment sector touched US $6.9 billion, up 17.8 percent over the same period of the previous year. Exports from the sector reached a record high of over $1 billion in the month of August 2010, according to data released by the Vietnam Textile and Apparel Association (VITAS).

Shipments to the US continued to stay at the top at $4 billion, an increase of 20 percent, followed by Japan with a growth of 15 percent, South Korea an astounding 80 percent. Exports to the European Union, which is the second biggest market grew by just around 10 percent, while those to ASEAN bloc countries ascended by 17 percent, year on year.

Most of the textile and garment exporters have their order positions filled up for the rest of 2010, while a few have received export orders, even for the next year. Experts are of the opinion, that at the rate at which exports from the sector are ascending, they would not be surprised if they over-achieve the target of $10.5 billion set for 2010.

This reasoning comes from the fact that, that the next three months are the busiest seasons as retailers across the globe stock up for Christmas as well as the New Year.

Fibre2fashion News Desk - India


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