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Textile and garment industry earns US $13 bln
The textile and garment industry earned over US $1 billion in exports on average in the final months of 2011, bringing its total turnover to US $13 billion by November, according to the Việt Nam National Textile and Garment Group (Vinatex).
Export turnover is projected to outstrip US $13.5 billion for the whole year. The sector is forecast to attain a growth rate 30%, a record high in the past five years.
Since the beginning of the year, the industry has conducted synchronous measures to maintain market shares and increase their prestige with partners, said Vinatex Chairman Lê Tiến Trường.
Accurate forecasts and development orientations on export markets have also contributed to the successful year of the industry, Mr. Trường added.
Specifically, orders poured in from Việt Nam’s traditional markets were on the rise. Exports to the US surged by 14%; the EU, 41%; Japan, 52% over the same period last year.
Vinatex is launching programs on encouraging thrift practice and shifting raw material areas in a bid to improve business efficiency.
The sector targets to rake in US $15 billion in exports in 2012 in spite of potential challenges stemming from the world economy.
To fulfill the goal, the sector will focus on raising value-added quality for every FOB contract; reducing reliance on processing contracts and increasing ODM contracts.
In addition, the industry will consolidate traditional markets and penetrate into new ones./.
Khánh Phương
VGP
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