Apparel exporters sew up $900 million
Viet Nam News
HA NOI — Viet Nam’s garment manufacturers posted revenue of US$900 million from exports in January and February, a 46 per cent year-on-year increase, reported the Ministry of Trade.
The ministry attributed the strong performance in part to strong demand from the US, which accounted for sales of over $300 million during the two-month period. Notable export categories included popular off-the-rack apparel including cotton and synthetic-fibre daywear and swimsuits.
Viet Nam also exported more than $200 million worth of garments to the EU in the same period, much of which came from the sale of men’s and women’s trousers. Viet Nam earned $123 million from exporting trousers to the EU last year, a 63 per cent increase from the previous year.
The ministry said it expects the sector will maintain 30 per cent growth in trouser exports to this bloc this year.
Trade experts suggested the robust performance of the garment sector was also due in part to the fact that China – Viet Nam’s leading competitor in the garment-export sector- had begun to rein in skyrocketing export growth in a bid to avoid a reimposition of quotas and anti-dumping litigation. — VNS
