Vietnamese textile-garment export turnover reached $4.89 billion in the first two months of this year, up 19 per cent year-on-year, according to the ministry of industry and trade (MoIT). Products witnessing significant export growth included fabrics made from natural fibres at 14 per cent, fabrics from synthetic fibres at 14 per cent and apparel at 11 per cent.

The positive performance was attributed to many firms receiving orders for the first six months of this year or even the entire year., according to a news agency report.

Chairman of the Ho Chi Minh City Textile and Garment-Embroidery Association Pham Xuan Hong said the prospects of the domestic textile and garment industry seemed quite positive this year because of adequate external orders.

The industry is projected to generate $40 billion from exports by the end of this year, up 10.8 per cent year-on-year, according to the Vietnam Textile and Apparel Association (VITAS). The industry’s trade surplus was expected to reach $20 billion this year. it said.

In 2018, export turnover of garments and textile products reached more than $36 billion, marking a year-on-year rise of 16 per cent. (DS)

Fibre2Fashion News Desk – India

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