Vietnam garment and textile export likely to rise 10% in 2012

Vietnam is forecasted to export $15 billion worth of garment and textile in 2012, up 10% from 2011, said Pham Xuan Hong, the deputy chairman of Vietnam Textile and Apparel Association (VITAS) said.

This forecasted growth rate is much lower than 30% growth in 2011, Hong said, adding that presently most of garment and textile businesses only have orders for the QI/2012 and are negotiating orders for the QII/2012. Meanwhile, by this time last year those businesses already signed orders for QII/2011.
Beside the traditional export market such as the U.S, Europe, Japan, VITAS aims to expand its exports to other market such as Africa, South America, Russia in 2012.
In 2011, the Vietnam’s garment and textile sector is estimated to earn a total of $13.7 billion from export, making an on-year increase of 30%.
Source TEI/StoxPlus

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

Posted by VBN on Dec 24 2011. Filed under Garment Textile. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry