Vietnam garment exports to grow at slower pace in 2012

26 Dec '11

1 min read

Vietnam's garment exports are likely to grow at a slower pace next year, according to an expert.

Compared to an estimated year-on-year rise of 30 percent achieved by Vietnam's garment and textile sector exports in 2011, the country's exports are likely to increase by 10 percent in 2012, Pham Xuan Hong, Deputy Chairman of Vietnam Textile and Apparel Association (VITAS) said.

In 2011, Vietnam is estimated to earn revenue of US$ 13.7 billion through exports of garments and textiles and the figure will go up to US$ 15 billion in 2012, he added.

Mr. Hong informed that the country's garment and textile enterprises at present have orders for the first quarter of 2012 and the orders for the second quarter are still being negotiated.

In comparison, these businesses had already negotiated orders for second quarter of 2011 by this time last year, he revealed.

In addition to traditional export markets like the US, Japan and European countries, VITAS intends to enhance its exports to new markets including Russia, and the countries of Africa and South America next year, he said.

Fibre2fashion News Desk - India

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