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Garment sector tops table in export totals
The garment and textile sector continues to lead other staples in export turnover, earning more than US$3 billion in the first four months of this year, up 19 per cent compared with the same period last year.
According to the Viet Nam Textiles and Apparel Association (Vitas), the garment sector's export turnover is 1.7 times higher than that of crude oil, the second largest foreign currency earner.
Vitas Chairman Le Quoc An said that the export of garments to key markets such as the US and the EU had increased by 20 per cent and 6 per cent, respectively, driving the whole sector's export turnover during the first few months of the year.
The garment sector was also one of the first to recover from the global economic crisis, he said.
Even in 2009, when the global economic crisis was at its height, the sector still maintained its top spot, with export turnover reaching $9.1 billion. That figure is expected to hit $10.5 billion this year.
According to Vitas, the export of garments will continue to boom this year, as almost every business has a full order book. Several enterprises have also signed orders that will last until the end of the year.
In addition to boosting exports to their traditional markets, including the US and the EU, Vietnamese garment manufacturers are increasing their exports to other ASEAN countries.
Recently, the Viet Tien Garments Company set up offices in Cambodia and Laos and plans to open another in Myanmar in the near future.
Several customers from South Korea, Taiwan and Hong Kong have ordered made-in-Viet Nam garments, underscoring the increasing competitiveness of Viet Nam's garments in the global market-place.
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