Textile and garment exports likely to earn US$13 bil in 2011

With a great amount of capital flouring into the textile and garment sector, its projected target for over US$13 billion in export revenue this year is within reach.

Economists quote the Vietnam Textile and Apparel Association (VITAS) as saying Vietnam’s textiles and garments already reached US$11.2 billion last year.

Vietnam’s biggest market was the US (More than US$6 billion), followed by the EU (US$1.8 billion) and Japan (US$1.2 billion).

Vietnam has plenty of opportunity to increase its market share in the EU in 2011 as it currently ranks seventh among the largest exporters of textile and garment products to EU.

VITAS Secretary General Dang Phuong Dung believes it is possible to achieve the target.

In the first two months of 2011, the sector’s export turnover already hit more than US$2 billion, she says.

vov

>   Building capacity for Vietnam’s leather and footwear sector (11/03/2011)

>   Controversial GM crops encouraged (10/03/2011)

>   Poor households fearful of power jumps (10/03/2011)

>   US can maker to set up plant in southern Vietnam (10/03/2011)

>   Epikurean to open luxury resort in Nha Trang (10/03/2011)

>   Travel agents brace for difficult journey (10/03/2011)

>   Garment industry eyes $20b exports (10/03/2011)

>   Partners crucial for local retailers (10/03/2011)

>   Vietnamese businesses eye Africa as promising market (10/03/2011)

>   Vietnam Airlines to change terminal in Singapore (10/03/2011)