Home / Knowledge / News / Textiles / Vietnamese textile sector will further grow in Q2: Vinatex
Vietnamese textile sector will further grow in Q2: Vinatex
15
Apr '13
Vietnamese textile industry will maintain its growth momentum in second quarter of the current year, according to the Vietnam Textile and Garment Group (Vinatex).
 
Vietnamese textile and garment exports to the US, Japan and South Korea have grown by more than 25 percent year-on-year, during the first quarter of 2013, while exports to the EU increased by 13 percent year-on-year, Vinatex deputy general director Le Tien Truong said in an online conference of the Ministry of Industry and Trade (MOIT).
 
The Vietnamese textile and clothing industry has received strong orders from top apparel and textile importers, and is likely to grow by more than 20 percent during the second quarter, he said.
 
As a result of good production and orders, income of workers in the garment and textile sector would increase, Mr. Truong added.
 
In the first quarter, Vinatex’s production of textile and clothing rose by 21 percent due to sharp increase in orders, plus the firm’s better preparedness for more production and exports.
 
Vinatex’s inventory fell by 4 percent year-on-year at the end of the first quarter, which also provides impetus for further growth in the second quarter.
 
Meanwhile, consumption has declined in Vietnam’s domestic market and hence, nearly all companies in the sector would have to count on their exports to offset the declining domestic sales.
 
MOIT requested Vinatex to strengthen trade promotion activities in domestic market, support innovative production techniques, and participate in the “Buy Vietnamese Goods” campaign to boost domestic consumption of Vietnamese textiles and garments.
 
According to Vietnam Textile and Apparel Association (VITAS), exports of garments and textiles from Vietnam increased by 16 percent year-on-year to US$ 4.2 billion, during the first quarter of the current year.
 

Fibre2fashion News Desk - India

Must ReadView All

Apparel/Garments | On 22nd Mar 2017

Amazon India introduces 'A-Z GST Guide' programme

Amazon India has introduced a programme called 'A-Z GST Guide' to...

Textiles | On 22nd Mar 2017

Dyeing textiles with bacteria

As an alternative to toxic synthetic dyes, scientists are exploring...

Courtesy: BCG

Apparel/Garments | On 22nd Mar 2017

Consumption in India to touch $4 trillion by 2025: Report

Consumption in India is likely to triple to $4 trillion by 2025 as...

Interviews View All

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Silke Brand-Kirsch
Schlegel und Partner

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

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

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
March 2017

March 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search