|
Apparel exports hit US$8 billion in 9 months
The textile and garment industry posted an export turnover of over US$8 billion in the first nine months of this year, a year-on-year increase of nearly 21 percent, according to the General Statistics Office.
In September alone, the industry earned US$1.05 billion, up by 30 percent over the same period of last year.
September was the third consecutive month the industry fetched more than USD 1 billion from exports.
With advantages from trade agreements between Vietnam and Japan, and ASEAN and Japan, Vietnam firms have aimed to export US$1 billion worth of textile and garment products to Japan in 2010.
According to the Vietnam Textile and Apparel Association (Vitas), the last months of the year are the industry’s peak season of export.
Vitas vice chairman Le Van Dao said many clothing exporters have had orders for the end of this year and even for the first half of 2011, plus prices have risen by 10-15 percent year-on-year.
A representative of the Ho Chi Minh City-based Viet Hung Garment Joint Stock Company said the business has recently signed contracts to export 1.2 million items to Japan in early 2011.
With these advantages, the industry will surely earn US$1 billion each month in the fourth quarter, he said, adding that the industry is likely to reach the yearly target of USD 10.5 billion in export turnover right in November.
Over the past nine months, the industry’s exports to big markets have recorded high growth.
Exports to the US, which accounts for 55 percent of the industry’s revenues, increased by 22.1 percent to USD3.94 billion while the rising figures to the EU and Japan were 6.7 percent and 14.3 percent to USD1.18 billion and USD691 million respectively.
Exports to the European market bounced back in the past three months following a long period of dropping.
Textile and clothing exports to the Republic of Korea saw the highest growth rate of 84 percent thanks to tariff cuts in line with the ASEAN-RoK Free Trade Agreement.
Vietnamese exporters will also have the opportunity to boost garment exports to Laos and Cambodia as the European Union (EU) has decided to grant references in terms of material origin to the two nations.
For many years, textile and apparel products have ranked second in the list of leading export staples.
To facilitate the industry’s development and increase value of garment exports, the Government has set up programs to develop auxiliary industries to help local enterprises become more active in production and gradually reduce reliance on imports of materials.
Hoang Yen
SGGP, VNA
|
