Vietnam’s apparel export posts 30pct growth in Jan-Apr

Vietnam’s apparel export target of reaching $13 billion in 2011, equaling to 17-18 percent growth will be likely to be attainable.

In the first four months of this year, Vietnam’s export for apparel products reached $3.8 billion, rising over 30 percent from the same period last year. But, currently, garment and textile firms are facing particular difficulties affecting the competitiveness in the field, especially in the world market, Le Tien Truong, permanent deputy general director of Vietnam National Garment and Textile Group (Vinatex) said.

Also in Jan-Apr, Vietnam’s apparel export increased about 17-18 percent in volume and 12-13 percent in value from the same period last year. With 17-18 percent growth in output, Vietnam’s garment and textile sector still maintains its competitive position on the world market and keeps its market share.

In 2010, Vietnam’s export for apparel products reached $11.2 billion. With over 30 percent growth in Jan-Apr, the country’s export target of apparel products at $13 billion in 2011 or 17-18 percent growth will be possible.

While the country’s garment export surged strongly (over 30 percent), the consumption in the domestic market tended to slow down with growth of only 18 percent. According to Truong, it was because of Vietnam’s garment industry, especially Vinatex, has strict implementation of the government’s Resolution 11 on curbing inflation and stabilizing macro-economy. The country’s garment sector has limited the price rise and adjustments. – Vietbiz24

Posted by VBN on May 17 2011. Filed under Garment Textile, Import-Export, Import-Export turnover. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry