Textile, garment exports surpass yearly target

Nhan Dan/ VNA- Vietnam’s export turnover from fibres, textiles and garments exceeded US$20 billion in 2013, up 18% from 2012,beating the target by over US$1 billion, according to Dau Tu (Investment) newspaper.

 

Textile, garment exports surpass yearly target

This outcome put the sector at the top of Vietnam’s list of key exports.

The sector also achieved considerable growth in major markets such as the US, the EU, Japan, the Republic of Korea and ASEAN.

Last year, Vietnam’s exports of these goods to the US increased by 13 percent in the context that total textile and garment imports into the US only rose by three percent. This market alone generated more than US$8 billion for Vietnam’s textile and garment sector, representing 45% of its export revenue in 2013.

Vice Chairman of the Vietnam Textile and Apparel Association (Vitas) Le Tien Truong said the outcome showed that the sector had managed to overcome hardships thanks to properly directed measures to enhance competitiveness and discover niche markets while consolidating market share with key partners.