Vietnam apparel textiles show positive signs

In the fourth quarter of this year, Vietnam's apparel and textile sectors showed positive signs in the fourth quarter of this year, as many large companies obtained sufficient orders and even received orders for the first quarter of 2013.

According to LeTrungHai, deputy general manager of Vietnam Textile and Apparel Group (Vinatex), the textile and apparel sector does not need to make efforts to achieve the export target of 170-175 billion U.S. dollars in 2012 and 20 billion U.S. dollars in 2013.

By the end of September this year, Vietnam Textile & Garment Group's exports reached 12.6 billion U.S. dollars, an increase of 7.4% year-on-year.

LeTrungHai said that in the second quarter of this year, the clothing sector has already had real difficulties, but the situation has changed in the third and fourth quarters, which should be thanks to the higher growth of the market.

In particular, Vietnam held the 2012 Global Textile Manufacturers Association meeting on November 4-6, which provided good opportunities for local business units to update their market information and expand their contacts with major manufacturers in the world. .

Economic experts said that trade agreement partners that run through Asian peace talks will change the global textile trade. The United States is considered to be the world's largest consumer of textiles, with annual orders of approximately 100 billion U.S. dollars, and global textile spending of 500 billion U.S. dollars. This will open up a huge opportunity for Vietnam's garment industry, because Vietnam is the 9th member of the agreement to talk about friends' trading partners.

In recent years, the fact that the growth rate of textile exports has reached 25-30% has created a new ladder for the clothing and textile sectors in Vietnam.

As a result, the surplus value has also increased, accounting for 40% of the total export value of the textile and clothing industry. The textile and clothing industry has become the country's main export sector. In the first nine months of 2012, garment exports reached 12.6 billion U.S. dollars, an increase of 7.4% year-on-year. In particular, exports to the US market reached US$5.6 billion, up 8% year-on-year; exports to the EU market reached US$1.81 billion; exports to the Japanese market reached US$1.45 billion, up 18.7% year-on-year; The export value reached 748 million U.S. dollars, an increase of 18.5% over the same period of last year.

Despite the world economic recession, orders from Japan and South Korea remain high, thanks to the stimulus of bilateral and multilateral trade agreements between Vietnam and ASEAN, Japan, and South Korea.