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Textile & garment exports aim to reach new heights

12
Nov '08
It is worth noting that Vietnamese textile and garment industry has made much progress, generating maximum foreign exchange for the country in the recent years. The annual growth rate on an average, reached 32 percent, each year.

It even surpassed crude oil to top the list with US $811 million in export value in October, and in the first 10 months this year, the industry's total export value was $7.64 billion, up 20 percent on year.

In 2007, Vietnam has been able to list itself among world's top ten exporters in the field of textile and garment. The country is striving to be among the top five by 2015.

However, as products from China and Thailand flooding the domestic market, local manufacturers, who have been focusing on export products, are now being faced with alarming situation.

Observing the current situation, experts opine that since business prospects in the domestic ground are enormous, manufacturers must shift their focus in here, to cater to the local demands.

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Fibre2fashion News Desk - Vietnam


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