Textile-garment exports fetch 4.89 billion USD in two months
Updated : Tuesday, March 12, 2019 12:35 PM (GMT+0700)

The country’stextile-garment export turnover reached 4.89 billion USD over the past twomonths, up 19 percent year-on-year, according to the Ministry of Industry andTrade (MoIT).

Clothing made by workers of Binh Minh Garment JSC in HCM City - Photo: VNA

Among products recording significant export growth includedfabrics made from natural fibers at 14 percent, fabrics from synthetic fibersat 14 percent and clothing at 11 percent. 

The ministry attributed the period’s positive performance tothe fact that many businesses had received orders for the first six months ofthis year or even the whole year. 

Sharing the MoIT’s assessment, Chairman of the HCM CityTextile and Garment - Embroidery Association Pham Xuan Hong said hebelieved that the prospects of domestic textile and garment industry werequite positive this year thanks to adequate orders from foreign partners. 

Nguyen Van Can from the HCM City-located 28 Corporation toldthe online newspaper congthuong.vn that thanks to positive market demand,its member companies and subsidiaries had won contracts for the firstquarter.  

As well as a rising number of orders, Vietnamese textileand garment goods had become more attractive to foreign customers thanks totheir strong competitiveness in terms of quality and price compared to those ofrival countries in the region, according to trade experts.

The supply chain, which had been gradually completed thanksto increasing flow of capital invested in the textile and dyeing industryand free-trade agreements Vietnam 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 40billion USD from exports by the end of this year, up 10.8 percentyear-on-year, the Vietnam Textile and Apparel Association (VITAS) hasforecast.

The industry’s trade surplus was expected to reach 20 billionUSD this year. Employment would be ensured and income for 2.85 million workerswould be increased, said VITAS.

These targets were based on a successful year in 2018, whenexport turnover of garments and textiles products reached more than 36 billionUSD, marking a year-on-year increase of 16 percent. This level of growth wouldmake the nation one of the top three largest exporters of textiles and garmentsin the world.

Source: VNS/VNA

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