Vietnam apparel exports to increase by 30% in first half of the year

HANOI, June 27 (Asia Pulse) – Vietnam’s total garment export turnover was estimated to reach US$ 6.16 billion in the first half of this year, up 30 per cent against the same period last year, the highest growth rate in the past five years, an official said.

In June alone, apparel exports topped $ 1.15 billion, a month-on-month increase of 11 per cent, deputy general director of the Vietnam National Garment and Textile Group (Vinatex) Le Tien Truong at a press conference in Hanoi.

These encouraging results came despite the fact that domestic garment enterprises had to cope with several challenges including rising electricity prices that resulted in increased production costs, high lending interest rates and fluctuations in the global price of cotton, he said, adding that the US, EU and Japan remained the largest importers of Vietnamese garments.

There are 3,710 enterprises operating in the garment and textile sector. Most are located in HCM City and Hanoi.

Vinatex, the country’s leading garment group, posted a six-month revenue of over VND19.37 trillion ($ 941 million), a year-on-year increase of 33 per cent or equivalent to 55 per cent of its annual target.

During that period, it also exported about $ 1.23 billion worth of goods, surging 32 per cent over the same time of last year.

It aims to post a revenue of VND17.5 trillion ($ 849.5 million) and an export value of $1.2 billion in the second half of this year.

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