Vietnam’s textile and garment exports reached US$100 million
In March 2012, Vietnam’s textile and garment exports reached US$1.15 billion, making it the only export product with an export value exceeding US$1 billion in that month. The cumulative export value in the first quarter of this year was US$3.23 billion, an increase of 1.54% compared with the same period last year. %. Welcome to download the latest IPO weekly! >>
According to the General Bureau of Statistics of Vietnam, Vietnam’s textile and garment exports reached US$1.15 billion in March 2012, making it the only export product with an export value exceeding US$1 billion in that month. The cumulative export value in the first quarter of this year was US$3.23 billion, which was 3.23 billion US dollars compared with last year. Growth over the same period was 15.4%. The Vietnam Textile and Garment Association (Vitas) stated that sales in traditional export markets such as the United States and Japan still grew steadily in the first quarter of this year, with the United States being the largest export market, accounting for 52% of total exports.
Since Vietnam and Japan signed an economic partnership agreement in 2009, Vietnam’s textile and garment exports to Japan have enjoyed tax reductions. Exports to the Japanese market surged by 30% in the first quarter, and exports to the Korean market also surged by 55% in the first quarter; Europe In the market, due to the debt crisis, export growth was only 3.5%, which was a significant decline compared with the high growth rate of 33% in the same period last year.
Pham Xuan Hong, vice president of the Vietnam Textile and Garment Association, said that Vietnamese textile and garment industries are facing fierce competition from India, Bangladesh, Pakistan, Indonesia and Cambodia. Coupled with the gradual slowdown of international consumer demand, Vietnamese industry must be more competitive. Powerful prices attract customers and orders.
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