Vietnam exports 9.38 bln USD garment in H1
Wednesday, July 23,2014AsemconnectVietnam - Vietnam made over 9.38 billion U.S. dollars from garment exports in the first half of 2014, up 19.8 percent year-on-year, accounting for 13.2 percent of the national total export revenue during the period.
According to the latest statistics on the website of the General Department of Vietnam Customs on Tuesday, in June alone, Vietnam pocketed over 1.89 billion U.S. dollars, up 22.4 percent against the previous month, posting the first time since January 2014 when garment replaced phone and accessories to top Vietnam's export items in terms of revenue.
The European Union followed the United States with a turnover of 1.49 billion U.S. dollars, up 27.7 percent year-on-year, accounting for 15.9 percent of Vietnam's total market shares, said Vietnam Customs.
In the past years, garment has contributed some 15 percent to Vietnam's export revenue annually, bringing Vietnam to top five among 153 garment exporting countries and regions worldwide in terms of revenue.
However, Vietnamese garment is facing several internal problems such as being too much dependent on imported fabrics, focusing on Cut, Measure and Thread (CMT) jobs, which creates low wages for local workers, Bao Cong Thuong (Industry and Trade News), an online newspaper under Vietnam's Ministry of Industry and Trade said recently.
In order to lay stable foundation for the development of the sector, Bao Cong Thuong quoted local experts as saying that Vietnam's garment exporters should strengthen capacity of designing, and marketing to transfer from CMT method to Free On Board, Original Design Manufacturer (ODM) or Original Brand Manufacturer (OBM) methods, in which profit in each product will be increased as well as seek for more material sources.
In addition, Vietnamese garment enterprises should boost exports of traditional garment, textile items to diversify products, enhance competition of Vietnamese products, and promote "made in Vietnam" brand, said experts.
Source: Reuters
Garment & textile sector tries to keep growth momentum
Customs clearance procedures supported for importing gold for bidding
Thanks to high prices, coffee export turnover in the first quarter of 2024 skyrocketed 57.3%
Foreign purchasers show interest in five product groups of Vietnam
Japanese investors join big real estate project in Binh Duong
Vietnam has opportunities to attract, develop the offshoring market
Nearly 600 million USD disbursed in support of agroforestry, aquatic sectors
Squid and octopus exports are expected to decrease by 2% in the first quarter of 2024
Vietnam’s imports of raw materials for animal feed production in March and first 3 months of 2024
US dollar continues gaining against Vietnamese dong, hitting exchange ceiling
Real estate market thrives, entities ready to re-enter market
DAILY: Vietnamese pepper prices increased by 1000 VND on April 16, 2024
DAILY: Vietnamese coffee prices increased by 1000 VND on April 16, 2024
In the first quarter of 2024, fertilizer exports increased sharply over the same period
Plan of Hai Duong province for a period of 2021 - 2030, ...
Organize space reasonably and harmoniously, focusing on connecting Hai Duong in common development space, actively contributing to the ...Plan of Hau Giang province in a period of 2021 - 2030, ...
Sustainable forestry development program in a period of ...
12th-century ancient road unearthed at My Son Sanctuary
An ancient road dating back to the 12th century has freshly been discovered in an excavation on architectural ruins at the east side of ...Efforts made to seek UNESCO’s recognition for Con Moong ...
Vietnam Art Photo Contest and Exhibition 2024 to be held ...
Bas-relief featuring talks between Uncle Ho and soldiers ...