(for illustration only. Photo: htgaco)
The garments sector posted an export value of 2.15 billion USD in the first two months of this year, the highest level of all Vietnam’s 24 staple exports.
The value not only represents a year-on-year soar of 54.2 percent but also proves the sector’s sustainable development after it has continued to lead the country’s export staples since 2009.
According to Le Tien Truong, Deputy General Director of the Vietnam Textiles Group, the growth of the garments sector can be seen clearly in most markets right in the first month of the year.
By the end of January, the US, EU and Japan continued to be Vietnam’s largest garment importers, valued at 659 million USD, a year-on-year rise of 41 percent, 241 million USD, up 75.6 percent and 133 million USD, up 71 percent, respectively.
Garments export to the Republic of Korea generated only a modest value of over 71 million USD, however, recorded a yearly increase of 162 percent.
Export earnings from the four markets made up more than 88 percent of the country’s total garment export, worth 1.1 billion USD in total, in the month.
Truong said at present, many enterprises already signed export orders until the first half of the year, the value of many of which saw increases of 10-15 percent over the same period last year.
Garco 10, which exports 80 percent of its over 20 million products to the US, Germany, Japan and Hong Kong (China), is, for example, starting orders for the third quarter of the year.
The garment sector now targets an export value of 13 billion USD this year.