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Apparel exports realize remarkable growth

30
Aug '08
Export of apparel and garment sector is on a growing phase compared to last year. Figures are indicating export earnings of US $174 million from jacket suit in July 2008, giving rise by 31 percent over June and 14 percent year-on-year.

In the same line, export of overcoat rose by 0.95 percent over June and 47 percent over same period of 2007. Elastic shirt and trousers also saw increase by 3.29 and 7.43 percent respectively.

Textile and garment products exported from Vietnam managed to earn $932 million, showing a year–on–year rise of 21.94 percent in July 2008. Overall, export experienced high growth rate in EU, Taiwan and Japan.

Export turnover of textile and garment industries reached $5,049 million in the first 7 months of 2008, giving boost of 19.74 percent over same period last year.

According to the statistics provided by the Ministry of Industry and Trade (MOIT), US has emerged as the biggest importer of Vietnamese elastic shirt for the first half of 2008, amounted to $778 million. The figures depict a year-on-year growth of around 27 percent, accounting for 60 percent of total export turnover to that country.

However, above growth rate of 27 percent is lower than the common growth of the product at the US market, which is near about 31.77 percent.

Export of kids wears generated $206 million during the period from January to June, registering a surge of 22 percent and accounting for 77 percent of total export turnover of Vietnam.

On the other hand, shipments of jacket suit to the market suffered a drop of 3.93 percent to $210 million.

Now local expert are forecasting strong growth in the coming months of 2008.

In July there were total 1500 export organization and enterprises raising 120 over month of June and 150 compared to same period of last year.

It can be said in conclusion that industry must earn atleast $880 each month from export, during the remaining period of the current year to fulfill its annual export target.

Fibre2fashion News Desk - Vietnam


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