Textile and garment exports fetch $4.89b in two months
Tuesday, March 12,2019AsemconnectVietnam - The country’s export turnover of textile and garments reached US$4.89 billion over the past two months, up 19 per cent year-on-year, according to the Ministry of Industry and Trade (MoIT).
Among products recording significant export growth included fabrics made from natural fibers at 14 per cent, fabrics from synthetic fibers at 14 per cent and clothing at 11 per cent.
The ministry attributed the period’s positive performance to the fact that many businesses had received orders for the first six months of this year or even the whole year.
Sharing the MoIT’s assessment, chairman of the HCM City Textile and Garment - Embroidery Association Pham Xuan Hong said he believed that the prospects of domestic textile and garment industry were quite positive this year thanks to adequate orders from foreign partners.
Nguyen Van Can from the HCM City-located 28 Corporation told the online newspaper congthuong.vn that thanks to positive market demand, its member companies and subsidiaries had won contracts for the first quarter.
As well as a rising number of orders, Vietnamese textile and garment goods had become more attractive to foreign customers thanks to their strong competitiveness in terms of quality and price compared to those of rival countries in the region, according to trade experts.
The supply chain, which had been gradually completed thanks to increasing flow of capital invested in the textile and dyeing industry and free-trade agreements Viet Nam had inked with several countries and blocs, had made Vietnamese garment products much more attractive, they said.
The textile and garment industry would likely generate $40 billion from exports by the end of this year, up 10.8 per cent year-on-year, the Viet Nam Textile and Apparel Association (VITAS) has forecast.
The industry’s trade surplus was expected to reach $20 billion this year. Employment would be ensured and income for 2.85 million workers would be increased, said VITAS.
These targets were based on a successful year in 2018, when export turnover of garments and textiles products reached more than $36 billion, marking a year-on-year increase of 16 per cent. This level of growth would make the nation one of the top three largest exporters of textiles and garments in the world.
Fertilizer export markets in first 5 months of 2023
Exports of animal feed reached 426.3 million USD in first 5 months of 2023
Imports of animal feed reached over 1.93 billion USD in first 5 months of 2023
DAILY: Vietnamese pepper prices fell by 500 VND on June 23
DAILY: Vietnamese coffee prices rose by 200 VND on June 23
Exports to China reached 20.3 billion USD in first 5 months of 2023
Coffee exports surpassed 2 billion USD in first 5 months of 2023
Vietnam considered rising star to become emerging market
Vietnam logistics sector offers attractive investment opportunities
Hanoi’s economy sees effective recovery
Reference exchange rate on upward trend
Vietnam lychee market update: Harvest in Central Highlands a success
DAILY: Vietnamese pepper prices fell by 500 VND on June 22
DAILY: Vietnamese coffee prices fell by 500 VND on June 22
Plan on implementing national strategy on climate change ...
Actively and effectively adapting, reducing vulnerability, loss and damage due to climate change; reduce greenhouse gas emissions ...Scheme on attracting, restructuring and improving quality ...
Urban development plan of Binh Phuoc province in a period ...
Plan on implementing Decision No. 327/QD-TTG dated March ...
Hung Kings Temple Festival 2023 kicks off
The Hung Kings Temple Festival 2023 and the Culture and Tourism Week of Ancestral Land 2023 kicked off in the northern province of Phu Tho ...Vietnam trounce Palestine at AFC U-17 Women's Asian ...
Phu Tho: Festival honours UNESCO intangible cultural ...
Saigontourist Group Food and Culture Festival 2023 opens
Vietnam’s top swimmer Huy Hoang to hold Vietnamese flag at ...