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Textiles exports to US cross US$2 billion mark

14 Nov '05
1 min read

According to Vietnamese Trade Ministry, total exports crossed US$2 billion mark in the first ten months of current year by exporting garments and textiles to US.

Stateside sales of the categories subject to quota amounted to $1.39 billion, the ministry informed.

The rule to issue export visas online has worked well for domestic exporters, a ministry official stated.

Under the rule, visas are issued to those companies, which have obtained export quotas, distributed by the ministry, to ship textiles to the US market.

The rule will be continued next year, said the official.

Presently, Vietnam is still discussing with US requesting early use of export for 2006.

Only the US goes on to impose quota limits out of Vietnam's largest clothing importers in the world.

During January to October, the country's local revenue from textile exports was $3.95 billion as well as, registering annual rise of 7.2%.

Exports to Canada recorded the highest growth of 50.6%, followed by Japan 20% and EU 5.9%.

After crude oil, textiles are Vietnam's second biggest foreign revenue earner.

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