Garments top the list of staple exports

The garment sector’s export earnings reached US$2.15 billion in the first two months of this year, the highest level of all Vietnam’s 24 staple exports.

The figure shows year-on-year rise of 54.2 percent and sector’s steady growth since 2009 compared to other export staples.

According to Le Tien Truong, Deputy General Director of the Vietnam Textiles Group, the growth of the garment sector can be seen clearly in most markets right in the first month of the year.

By the end of January, the US, EU and Japan continued to be Vietnam’s largest garment importers, valued at US$659 million, a year-on-year rise of 41 percent, US$241 million, up 75.6 percent and US$133 million, up 71 percent, respectively.

Garment exports to the Republic of Korea earned only US$71 million in January – but achieved an annual increase of 162 percent.

Export earnings from the four markets made up more than 88 percent of the country’s total garment export, worth US$1.1 billion in total, in the same month.

Truong said many enterprises have received export orders until the first half of the year, with many increasing by 10-15 percent in value compared to the same period.

Garco 10, which exports 80 percent of its over 20 million products to the US, Germany, Japan and Hong Kong, is, busy fulfilling orders for the third quarter of the year.

The garment sector aims to achieve US$13 billion in export earnings this year. – VOV

Tags: Vietnam garment exports, Vietnam Garment industry