Garment becomes second largest foreign currency earner
Updated : Friday, May 11, 2018 3:03 PM (GMT+0700)

Thetextiles and garment industry gained the second-largest export value in thefirst four months of this year, after the export value of phones and theircomponents, according to the Ministry of Industry and Trade.

 
The export value of textiles and garments in the first four months was estimated at 8.6
billion USD, a year-on-year increase of 15.7 percent - Illustrative image. Source: VNA

The export value of textilesand garments in the first four months was estimated at 8.6 billion USD, ayear-on-year increase of 15.7 percent.

Regarding the exportmarkets, the ministry said in the first three months of the year,the United States ranked first, with the export value of textiles andgarments from Vietnam reaching 3.04 billion USD, a year-on-year surge of 11.6percent. This accounted for 47.3 percent of the total garment export value.

The export value of textilesand garments from Vietnam to Japan reached 855.44 million USD, 19.6percent higher than the same period last year, accounting for 13.3 percent ofthe total export value.

The export value of textilesand garments to the Republic of Korea stood at 798.6 million USDand 268.95 million USD to China, an increase of 14.8 percent and 40.9percent, respectively, against the same period in 2017.

Meanwhile, the value rose by11.8 percent to reach 806.23 million USD worth of exports to the European Unionand by 26 percent to 228.36 million USD worth of exports to the ASEAN marketcompared to the same period last year.

To reach the target of 35billion USD in total textiles and garment export value for this year, theVietnam Textile and Apparel Association has asked enterprises to fully exploitthe working capacity of their workers as well as restructure their managementpractices to improve labour productivity.

Besides maintaining anddeveloping export markets such as the United States, EuropeanUnion, Japan and the Republic of Korea, the enterprises shouldfocus on developing other markets such as ASEAN, Eurasian Economic Union, Indiaand Latin American countries, including linkage with the distribution system inthe local market.

Source:VNA

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