Vietnam’s Garment Exports Likely To Hit US$400 MLN In May
Asia Pulse via Yahoo!7 News
HANOI, May 26 Asia Pulse – Vietnam’s garment exports sizzled in the early days of this month with projected sales reaching about US$15 million per day. Turnover for the entire month was likely reach $400 million, according to the Vietnam Textile and Apparel Association (ViTAS).
Total export revenue in the first five months of the year are likely to top $2 billion, up around 38 per cent from a year earlier and making the garment industry one of the fastest growing export earners in the country
Growth was spurred by strong demand from such major importers as the US, EU, and Japan as well as orders from smaller markets like Canada and Turkey.
Vietnam earned some $1.74 billion from textile and garment exports in the first four months of the year, reported ViTAS. Exports to the US notched up nearly $1 billion, making it the leading market for Vietnamese garment exports and accounting for 58 per cent of total sales during the four-month period.
Clothing exports to the EU posted solid growth of 70 per cent with sales at $350 million, while exports to Japan earned $250 million. Exports to Canada and Turkey grew a whopping 80 per cent and 200 per cent, respectively.
High growth is expected to continue in the coming months as many enterprises have already secured additional export orders. The garment industry is Vietnam’s second largest export earner.
(VNA)
