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Textile & garment export brings high revenue

22
May '08
Vietnam mainly earns foreign exchange through export of textile and garments to various nations. This year also the country has fetched good revenue from exporting goods to countries like Taiwan and Japan, which in turn will help the textile sector grow.

During the first quarter of 2008, textile and garment exports to Taiwan, witnessed a mixed trend, as demand for some products increased whereas for other dropped.

The nation exported nearly 897 thousand pieces of shorts, showcasing a significant rise of 117 percent and earned around US $2.6 million, a boost of 132 percent over the same period of 2007.

Vietnam exported approximately 4 million elastic shirts of all varieties, an increase of 59 percent. It generated revenue of more than $9 million surging by 56 percent. The demand of kids wear and denim trousers also rushed up in Q1.

On the other hand, although export of t-shirts and jacket suits observed a decline of 14 percent in volume, there was a growth of 2 percent in value due to price rise.

Vietnam shipped various products to Japan in first two months 2008. The country earned nearly $1.35 billion of foreign currency, out of which February earnings were approximately $676.35 million, according to Ministry of Industry and Trade (MOIT).

Key products that were exported to the Japan include textile and garment, footwear, crude oil and wooden artifacts.

The textile and garment exports turnover of Vietnam, in January and February 2008, came around $109.79 million, out of which February's contribution was nearly $44.365 million.

The accessories including handbags, hats and umbrellas reaped $12.98 million in January and February and $4.946 million in second month of 2008. The footwear exports fetched $26.77 million in the first two month and $7.903 million in February.

As Vietnam is enjoying good trade relations with Japan, the domestic Government is negotiating with Japanese counterparts to complete bilateral Economic Partnership Agreement (EPA), which will ease the export processes.

Fibre2fashion News Desk - Vietnam


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