Garment sector tops in total exports
The garment and textile sector continues to lead other staples
in export turnover, earning more than US$3 billion in the first
five months of this year, up 19% compared with the same period
last year.
According to the Vietnam 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% and
6%, respectively, driving the whole sector's export turnover
during the first few months of the year.
He said garment sector was also one of the first to recover
from the global economic crisis. 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 Vietnam's garments in the global
market-place.
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