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Textile and garment exports to EU skyrocket
Sep '08
Exports to EU show sky-rocketing growth for the textile and garment industry in the first seven months of 2008. Vietnam's textile and garment products such as jackets, trousers, coat, t-shirts etc, are experiencing increased growth rates in exports to UK, Spain, Netherland, Italy and Germany who are member countries of the EU.

Recently released figures from the Ministry of Industry and Trade suggest that the country fetched US$ 198.3 million in July, to post a growth of 12.26 percent over June and 22.9 percent year-on-year in its shipments to the European Union.

Compared to July 2007, export growth rate of Vietnam's textile and garment products was much higher in key markets like Germany, UK and Spain.

In the first seven months, country earned $ 975 million from EU market, showing a rise of 21.63 percent over the same period in 2007.

During this period (Jan - July), export turnover of Vietnam's textile and garment products to Germany reached US$ 227 million, an increase of 10% over same period of 2007. Vietnam earned US$ 163 million from exports to England showing an increase of 20.51%.

Shipments to Spain market brought US$ 126 million, soaring 65.93%.and to Netherlands US$ 88 million, representing a rising of 30% in the first seven months of 2008 and in comparison to the same period of 2007.

Simultaneously decline of export was noticed in markets such as Poland, Greece, Portugal and Slovenia.

In the first seven months, most key export products like trousers, coat, shirt and sportswear witnessed a strong increase of 19, 21.65, 29 and 81 percent respectively, while that of sweaters decreased by 23 percent compared to same period last year.

Fibre2fashion News Desk - Vietnam

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