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Garments gaining ground in exports & domestic sales
26
May '11
According to the Vietnam Textile and Garment Association, with a year-on-year rise of 35.6 percent, country's overall garment export turnover for the initial five months of the year is estimated to grow to US$5.1 billion.

The Association's General Secretary Dang Phuong Dung stated that the US, Europe and Japanese markets are major customers of Vietnamese textiles, but the revenues are not increasing considerably due to rising raw material prices and labour costs.

Turkey's protectionist tariffs on imports of textile and garment products from Vietnam, and Malaysia's anti-dumping tariffs on imports of fabric products are the major challenges that the Vietnamese apparel industry is now confronted with, Dung said.

The country's apparel exports registering a year-on-year rise of 30 percent jumped to $3.8 billion during the initial four months of the current year. This growth is attributed to a 12-13 percent rise in prices and 17-18 percent rise in volume.

Le Tien Truong, Standing Deputy General Director of Viet Nam National Garment and Textile Group (Vinatex) said that, with a 17-18 percent increase in total production, the country's garment and textile industry has retained its competitive edge and market share in the world markets.

Last year, the country's apparel exports stood at $11.2 billion, Dung said and added that, besides such increase in exports, with expansion of country's leading apparel producers like Viet Tien and Nha Be, country's domestic apparel market is also giving positive signs.

Fibre2fashion News Desk - India

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