Textile, garment exports reach $5.1bln

Total apparel export turnover was estimated to increase by 35.6 per cent year-on-year and reach US$5.1 billion in the first five months of the year, according to the Viet Nam Textile and Garment Association.

Dang Phuong Dung, general secretary of the association said that the US, Europe and Japan markets were the strongest consumers. However, revenues were down due to soaring material prices and labour costs.

The challenges facing the country’s apparel industry were Turkey’s “self-defence” tariffs on textile and garment products imported from Viet Nam, and Malaysia’s “self-defence” tariffs on fabric products, Dung said.

In the first four months, Viet Nam’s apparel exports reached $3.8 billion, rising over 30 per cent against the same period last year, with an increase of 17-18 per cent in volume and 12-13 per cent in price.

“With 17-18 per cent output growth, Viet Nam’s garment and textile sector maintains its competitive position on the world market and retains its market share,” said Le Tien Truong, standing deputy general director of Viet Nam National Garment and Textile Group (Vinatex).

In 2010, Viet Nam’s apparel exports reached $11.2 billion.

While the country’s garment exports had surged, there were also positive signs in the domestic market, with the expansion of major producers like Viet Tien and Nha Be, Dung said. – VNS

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