Textile & garment exports to US, EU up

23 Jul '05

3 min read

Ministry of Trade informed that the textile and garment industry has registered increase in exports to the US and EU, Viet Nam's biggest markets.

The revival follows a poor performance in the first half of the year, which saw export increase by just 0.3 per cent over the same period last year.

This riase has been attributed to renewed Government efforts to ensure quotas are appropriately distributed on the US market through automatic allocation, along with a commitment from China to limit garment exports to the EU.

Between June 27 and July 9, export earnings for the textile and garment industry reached around US $200 million, a record growth rate this year and pulling back the industry on track to earn between $450-500 million this month, said the ministry.

Officials of the Textile and Apparel Quota Administration Division (TAQAD) said the automatic quota allocation policy recently adopted by the trade and industry ministries, which allows export quotas to be granted to local firms upon demand rather than according to pre-determined allocations, was the main factor behind the recovery of the US export market.

Just one month after the implementation of the policy, "hot" product categories such as Cat 347/348 (cotton trousers) and Cat 341/641 (cotton and synthetic shirts for women) posted an average growth rate of 15 per cent, bringing the total US export earnings from these categories to about $250 million for the year so far.

More Textiles News - Vietnam...