Garment sector targets 10.5 bln USD in exports

The garment and textiles sector aims to earn about 10.5 billion USD from exports this year based on recovery signs from the country’s two major markets in the US and the EU.

Measures to achieve the target were discussed at a conference of the Vietnam Garment and Apparel Association’s Executive Council in Hanoi on Mar. 8.

The sector is focusing on rearrangement of production to reduce production cost and the application of advanced technology to raise productivity and competitiveness.

The sector also invests in building strategic linkage with customers, increasing the local content of products and expanding its share of the domestic market.

In 2009, the sector led the nation’s major export items despite impacts of the global economic slowdown. It earned over 9 billion USD, a decrease of 1.3 percent since the previous year.

The US remained the largest importer of Vietnam ’s garment and textiles with import turnover of 4.9 billion USD, making up 55 percent of the sector’s export value.

The sector earned 930 million USD from garment and textile exports to Japan , an increase of 12 percent. Its exports to the Republic of Korea , Australia , Canada and Singapore also saw increases in value.

Besides garment and textile products, the sector also exported materials. Of which fabric exports increased 70 percent over 2008.

Tags: Vietnam garment exports, Vietnam Garment industry, Vietnam Garment sector