Garment and textile exports hit a record high

Vietnam’s textile and garment export turnover has attained an unprecedented growth rate with 13 percent in July, and a year-on-year increase of 30 percent to VND7.6 billion.

The United States was a key market for these products, importing US$3.18 billion in the first six months of this year, up 17.3 percent over the same period last year, which accounted for 51.6 percent of the sector’s total export revenues.

Vietnam maintained high export turnover from some other markets, such as the European Union (EU) with a year-on-year increase of 51 percent, earning 1.16 billion USD; and Japan, (47 percent), raking in US$712 million.

Export value from the Republic of Korea (RoK) was up 78 percent, due to the validity of the RoK-ASEAN Free Trade Agreement.

According to the Vietnam National Textile and Garment Group (Vinatex), domestic businesses have completed the signing of export orders for this year. Accordingly, the export volume will increase by 20 percent and prices by 12-13 percent.

The country’s garment and textile export revenues are expected to reach the target of US$13.2 billion this year, up 18 percent over last year. – VNA

Tags: Vietnam garment exports, Vietnam Garment industry