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Garments exports post glittering growth in 2011
05
Mar '11
The country's revenues from garment exports in the first two months of the current year rose by 54.2 percent to US $2.15 billion, over the previous year.

The rise not only reflects the steady growth that the sector has been attaining from 2009 onwards, but is also the highest as compared to the growth registered by all the 24 export staples of Vietnam.

Le Tien Truong, Deputy General Director of the Vietnam Textiles Group said, growth of the country's garment sector was very much reflected in majority of the markets, from the very start of the year.

By close of January, the US, EU and Japan, with a year-on-year rise of 41 percent, still stood to be the leading contributors to country's overall garment exports valued at US $659 million.

The US with a rise of 75.6 percent imported garments worth US $241 million during January, while EU imports too registered a rise of 71 percent, to US $133 million.

Further, though the country earned only US $71 million from its garment exports to the Republic of Korea during January, but the annual figures reflected a rise of 162 percent.

The four markets together contributed over 88 percent of the country's overall garment export earnings worth US$1.1 billion, for the month of January.

The sector is eyeing to bag US $13 billion in revenues during 2011 in exports from the sector.

Fibre2fashion News Desk - India

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