Jan-May garment exports fetch US$5.1 billion

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SaigonTimes English - 37 month(s) ago 9 readings

Jan-May garment exports fetch US$5.1 billion

HCMC – Vietnam earned US$5.1 billion from garment and textile exports in the January-May period, a robust year-on-year growth rate of 35.6%, said an official of the Vietnam Textile and Apparel Association.

Jan-May garment exports fetch US$5.1 billion

By Van Nam - The Saigon Times Daily

Workers of Saigon 3 Garment Joint Stock Company check garment products before delivery - Photo: Van Nam HCMC – Vietnam earned US$5.1 billion from garment and textile exports in the January-May period, a robust year-on-year growth rate of 35.6%, said an official of the Vietnam Textile and Apparel Association.

Dang Phuong Dung, vice chairwoman of the association, attributed the high export value to stable orders from key markets including the U.S., Europe and Japan.

She told the Daily on Monday that garment exports to Japan in particular were strong despite the earthquake and tsunami in Japan in March.

Despite the high growth, Dung said local manufacturers were grappling with greater difficulties, as higher prices of imported materials, higher salaries for workers and high interest rates have stoked up the rising input costs.

“The increasing costs of production and higher interest rates from local commercial banks have been the toughest difficulties for domestic garment enterprises in recent months,” she said.

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