Garment export likely to rise 20.5%

VGP - Việt Nam is likely to make an export turnover of US $13.5 billion from garment and textile in 2011, up 20.5% against 2010, according to the latest forecast by the Ministry of Industry and Trade.

August 09, 2011 7:14 PM GMT+7

As the world’s 7^th garment exporter, Việt Nam pocketed nearly US $6.2 billion from garment and textile exports in the first half of this year, posting a year-on-year surge of roughly 30%, the highest rate over the past 4 years.

The US was the biggest importer, accounting for 51% of Vietnamese garments and textiles. The European Union (EU) was the second biggest market, with 17% and Japan, the 3^rd market with 12%.

The ministry said, in the coming time, the US, the EU, Japan will continue to be Việt Nam’s key customers, and some other markets, including the Republic of Korea, Russia, Canada and Turkey, are promising for Vietnamese garments and textiles.

The ministry predicted that Việt Nam will earn US $774 million from exporting apparel products to the Republic of Korea this year, up 80% against last year. It also expects to rake in US $270 million from the Canadian market in 2011, or 2.8 times higher than the 2006 figure.

By Ngọc Vân