Vietnam : Exports to EU fetch high revenue

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Exports to EU fetch high revenue

03
Apr '08

Vietnamese textile and apparel products, exported to EU market in 2008 reaped nearly US $73 million in February, with turnover of the first two months reaching almost $240 million.

The growth of January and February 2008, boosted around 26 percent, when compared to same period of last year.

Germany is the biggest client of Vietnam among all EU markets. The country fetched approximately $19.4 million from Germany in February and $59.2 million in the two months period, up by 6.4 percent over same period last year.

UK acquired second place by spending nearly $12 million on textile and garment in the month of February and around $44.2 million in first two months of 2008, increasing 31.4 percent in comparison with corresponding period of 2007.

Other major exporting markets for Vietnam include France, which imported garments and textile products around $22.4 million in January and February, experiencing a rise of 17.8 percent.

Exports to Netherlands reach almost $22.35 million, up by 40 percent. Trade with Spain comes up to $20.8 million, an increase of 24.6 percent and with Sweden it was around $6.68 million, boosting approximately 62 percent.

However, in February, sharp fall in exports was witnessed in countries including Czech Republic which decreased to 26.6 percent and with Republic of Ireland, down by 24.2 percent.

The market analysists expected a better overseas revenue collection, but due to Vietnamese Tet festival, the exports declined as enterprises could not increase their production capacity.

Fibre2fashion News Desk - Vietnam

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