Value of Vietnamese garment exports up 14% - sportstextiles: Lea SportsTextiles

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Value of Vietnamese garment exports up 14%

10/05/2012
Exports of garments and textiles earned $3.7 billion in revenues for Vietnam in the first four months of 2012, an increase of 14.4% compared to the same period last year. The figures come from the country’s general statistics office.

Commenting on the figures, the Vietnam Textile and Apparel Association (Vitas) said that while exports to the European Union showed an increase of only 3%, clothes and textiles going to the US earned 15% more than in January-April 2011. It noted particularly strong increases in the value of exports to South Korea (50%) and to Japan (more than 30%).

Vitas general secretary, Dang Phuong Dung, has said that it is large overseas-owned manufacturers that are registering growth in Vietnam and that many smaller locally owned members of Vitas had gone out of business in recent months, with larger players moving quickly to hire their employees.

Overseas-owned manufacturers account for 25% of the Vietnamese garment and textile industry, Vitas has said, but bring in 65% of export turnover.

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