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Your go-to source for news, anytime, anywhere! Insightful industry information from the textile, apparel & fashion world with our news app
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Garment exports up 28% by Sept
13 Oct '06
1 min read
Ministry of Industry revealed that garment exports in September, this year, reached US $500 million with the US retaining its spot as the top market.
Entire garment exports during the January-September 2006 period earned $4.46 billion, representing year-on-year rise of 28 percent.
Le Quoc An, Chairman, Vitas, said that despite the significant growth textile industry is facing serious obstacles like lack of advanced technical resources and anti-dumping issues combined with stiff competition from export giant China and other Asian countries.
He also explained that garment sector relies heavily on imports for raw materials that is a major weakness.
However, International experts believe that Vietnam will be among the top ten garment exporters by 2010 with annual earnings of $10 billion.
Meanwhile, Ministry expects export revenue to reach around $5.8 billion by the end of this year.
Entire garment exports during the January-September 2006 period earned $4.46 billion, representing year-on-year rise of 28 percent.
Le Quoc An, Chairman, Vitas, said that despite the significant growth textile industry is facing serious obstacles like lack of advanced technical resources and anti-dumping issues combined with stiff competition from export giant China and other Asian countries.
He also explained that garment sector relies heavily on imports for raw materials that is a major weakness.
However, International experts believe that Vietnam will be among the top ten garment exporters by 2010 with annual earnings of $10 billion.
Meanwhile, Ministry expects export revenue to reach around $5.8 billion by the end of this year.
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