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Garment exports to surpass projected target
02 Oct '10
1 min read
According to the Vietnam Textile and Apparel Association, the textile and apparel industry's export is anticipated to generate US $7.5 billion during the initial nine months of the current year. This would reflect a raise of 17 percent against the value generated during the same period in the previous year.
The sector is expected to exceed its projected $10.5 billion target for the current year.
The industry's overwhelming performance is largely because of the rise in the demand from the foreign buyers and the rise in the prices of the commodities by 15-20 percent.
Growth in exports to European markets remained static whereas exports to other markets kept on increasing throughout the period.
It has been recorded that Vietnam's exports to the US increased by 20 percent, Japan by 15 percent and to the ASEAN countries by 17 percent.
The association further informed that several apparel manufacturers had till now acquired sufficient export contracts for this year and had also signed export deals for the next year.
The sector is expected to exceed its projected $10.5 billion target for the current year.
The industry's overwhelming performance is largely because of the rise in the demand from the foreign buyers and the rise in the prices of the commodities by 15-20 percent.
Growth in exports to European markets remained static whereas exports to other markets kept on increasing throughout the period.
It has been recorded that Vietnam's exports to the US increased by 20 percent, Japan by 15 percent and to the ASEAN countries by 17 percent.
The association further informed that several apparel manufacturers had till now acquired sufficient export contracts for this year and had also signed export deals for the next year.
Fibre2fashion News Desk-India
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