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Related Keywords: export, Garments, growth, Industry, manufacturing, Textile, turnover, Vietnam, Vietnam Textile and Apparel Association

Vietnam has gained nearly USD12.1 billion from exporting garments and textiles in the first five months of this year, posting a year-on-year increase of 10.3 percent.

Revenues of the country's garments and textiles exported to the Association of Southeast Asian Nations (ASEAN) soared 31.6 percent, to South Korea up 16.3 percent, to the United States up 9.8 percent, and to Japan up 6.5 percent.

In May alone, the garment and textile export turnovers reached USD2.6 billion, gaining a year-on-year increase of 10.8 percent.

Related Keywords: aiming to remove difficulties, appealed to ministries of finance and industry and trade, finding tough to sustain, following feedback and recommendations, high cost of importing raw material, many domestic enterprises, not to increase import tariffs, polyester fibre, textile and garment enterprises, Vietnam Textile and Apparel Association, Vitas

The Vietnam Textile and Apparel Association (VITAS) aiming to remove difficulties for textile and garment enterprises, following feedback and recommendations of many domestic enterprises that they are finding it tough to sustain due to high cost of importing raw material, has appealed to the ministries of finance and industry and trade not to increase import tariffs on polyester fibre from zero to 2 percent.

Related Keywords: aims to export textiles and garments, competitors enjoying preferential policies, export market, face of fierce competition, from regional rivals, Increase in wages for workers, logistics costs, putting Vietnam’s local garment exporters, roughly $30 billion this year, under pressure, Vietnam Textile and Apparel Association

Increase in wages for workers and logistics costs, putting Vietnam’s local garment exporters under pressure, particularly in the face of fierce competition from regional rivals like Bangladesh, Myanmar and Cambodia.

Related Keywords: account for a mere three percent, EU market, in the first six months this year attracted foreign direct investment, more than USD Seven hundred fifty million, reduced number of FDI projects. US withdrawal from the TPP, Vietnam Textile and Apparel Association, Vietnamese textile and apparel industry, Vietnamese textile and apparel products

The Vietnamese textile and apparel industry in the first six months of 2017 attracted foreign direct investment (FDI) of more than $750 million, despite a reduced number of FDI projects in recent years and the US withdrawal from the Trans-Pacific Partnership (TPP) last January. At the moment, Vietnamese textile and apparel products account for a mere 3 percent of the EU market.

Except for the notable $220 million Chinese investment in a polyester synthetic fibre plant in the southern province of Tay Ninh, capital flows comprise mostly capital expansion investments in existing projects.

Related Keywords: achieved more than USD six billion, appear to support export earnings target, EU second largest export market, first quarter of this year, reduce production costs, seek orders for high quality products, urged enterprises optimise capacity of equipment, Vietnam garment and textile exports, Vietnam Textile and Apparel Association, Vitas

Vietnam has achieved from its garment and textile exports USD 6.84 billion in the first quarter of this year, 11.2 percent more than in the same period last year, according to the Vietnam Textile and Apparel Association (VITAS). First quarter figures appear to support this expectation of touching its export earnings target of over USD 30 billion set, seven percent growth over 2016.

Related Keywords: a rise of eleven point two percent year on year, available in forty countries and territories over the world, garment and textile exports, in the first quarter of this year, Vietnam earned six point eighty four billion USD, Vietnam Textile and Apparel Association, Vitas

Vietnam earned 6.84 billion USD from garment and textile exports in the first quarter of this year, a rise of 11.2 percent year on year, according to the Vietnam Textile and Apparel Association (VITAS).

Currently, Vietnamese garment and textile products have been available in 40 countries and territories over the world, with major markets including the US, Japan, the Republic of Korea, China and the EU.

Related Keywords: maintain export growth, meet its revenue target, plans to increase shipments, six percent in two markets, US and Japan market, USD thirty billion from exports this year, Vietnam Textile and Apparel Association, Vietnam textile and apparel sector, Vitas

Vietnam textile and apparel sector plans to increase shipments to the US and Japan and maintain an export growth of 6 percent in the two markets to meet its revenue target of $30 billion from exports in 2017, Vietnam Textile and Apparel Association (Vitas) said.

The US and Japan imported garments and textile products worth US$15 billion from Vietnam in 2016. This accounted for 53.5 percent of the garment and textile sector’s export turnover of $28.3 billion last year.

Related Keywords: develop central industrial parks, help enterprises in the sector lower costs, logistics centers, long-term strategy to develop, master zoning plan for textile and garment industry, revise development plan, road connectivity between large-scale IPs, stable policies, Vietnam Textile and Apparel Association, wastewater treatment facilities

The Vietnam Textile and Apparel Association (VITAS) wants the master zoning plan for textile and garment industry development plan revised as it has become outdated. The industry’s shipments amounted to US$27.5 billion last year and are expected to soar to US$31 billion this year. Therefore, it is necessary to adjust the master zoning plan for textile and garment industry development until 2020 with a vision toward 2030, Deputy Minister of Industry and Trade Ho Thi Kim Thoa said.

Related Keywords: buyers are not cutting back purchases, facing downshift, Free trade agreement, lower import tariffs, lower prices, Pacific-Rim trade pact, rise of new suppliers in global market, TPP, turning toward other suppliers, Vietnam Textile and Apparel Association, Vietnam textile and garment products export

Vietnam's textiles and garment products that accounted for nearly 14 percent of the country’s exports last year, is likely to miss the annual shipment target of $31 billion this year has it is facing downshift which industry insiders attribute to the rise of new suppliers in the global market. It’s textiles and garments exports in the first six months increased only 5.1 percent to US$10.7 billion, the slowest pace since 2010.

According to figures released by the General Statistics Office of Vietnam, the industry's exports grew 8.2 percent to $22.63 billion last year.

Related Keywords: challenges in finding new export contracts, especially for shirts, exports rise lower than targeted growth, falling export prices, orders moving to Laos and Myanmar, pants and jackets, ten percent this year, US largest export market, Vietnam garment and textile industry, Vietnam Textile and Apparel Association, Vietnamese trade ministry

Vietname Garment and textile industry exports in the first five months of this year rose 6.1 percent to US$8.6 billion, but the rise was lower than the targeted growth of 10 percent this year. In May, the industry earned $1.75 billion, up only 3.8 percent, according to Vietnamese trade ministry.

Many Industry insiders expressed concern over the difficult for garment and textile industry to meet the target of US$31 billion this year due to falling export prices and challenges in finding new export contracts, especially for shirts, pants and jackets.