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Garment sector posts an increase in export revenues

02 Jun '08
2 min read

Sai Gon Garment Joint Stock Company of Vietnam, one of the few garment companies, listed in local stock market, recently reported an earning of US $5.3 million in the first quarter of 2008.

The results were remarkable showing a year on year increase of 49.64 percent despite the fact that the overall market scenario of Vietnam has been grim.

The net profit generated by the company amounted to $0.25 million during the same period, up by 48.1 percent than the same period last year.

During the first quarter of 2008, textile and garment exports to Taiwan alone, witnessed a mixed trend, as demand for some products increased. The nation exported nearly 897 thousand pieces of shorts, showcasing a significant rise of 117 percent and earned around US $2.6 million, a boost of 132 percent over the same period of 2007.

Vietnam exported approximately 4 million elastic shirts of all varieties, an increase of 59 percent. It generated revenue of more than $9 million surging by 56 percent. The demand of kids wear and denim trousers also rushed up in Q1.

The accessories including handbags, hats and umbrellas reaped $12.98 million in January and February and $4.946 million in second month of 2008.

The textile and garment industry of Vietnam on the whole is in a better condition compared to those of other countries who are severely affected by slow down of US economy, stagnant exports, inflation, rising cost of production and a host of other related issues.

Fibre2fashion News Desk - Vietnam

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