Garment textile, footwear exports rise robustly

Report by the General Customs of Vietnam shows that garment and textile and footwear export turnover posted robust growth in May.

Garment and textile exports were estimated at US$1.65 billion in May, an increase of 0.8 percent over the previous month, sending five-month garment and textile exports to above $8.11 billion, up 8.7 percent compared to the same period last year.

According to the Vietnam Textile and Apparel Association, nearly 62 percent of garment businesses have seen higher amount of contracts in the second quarter of this year, compared to previous quarter.

Footwear exports have been experiencing the same situation. According to the Ministry of Industry and Trade, footwear exports were estimated at $1.1 billion, up 11.8 percent compared to previous month. In the first five months of this year, footwear export turnover reached $4.63 billion, up 19.5 percent over the same period last year.

A survey by the General Statistics Office said that 55.7 percent of footwear businesses have got more export contracts in the second quarter of 2015.

Garment and textile and footwear industries are expected to have many advantages when free trade agreements (FTA) take effect. Since the beginning of this year, the number of foreign investors investing in Vietnamese garment and textile industry in order to wait for FTAs, such as TTP, FTA Vietnam – EU, and FTA Vietnam – South Korea in front, has been continually increasing because Vietnam is considered to receive most benefit as many tariffs will be cut to zero percent.

By Minh Thuan – Translated by Thuy Doan

Other news

Most view

Beer production at Sabeco

Thai Group still considers Sabeco share purchase

Vietnam Beverage, a subsidiary of Thai Beverage Public Company Limited (ThaiBev), is still considering share purchase of Saigon Beer, Alcohol and Beverage Corporation (Sabeco) and will make the final decision on December 17.

Banking-finance

Economy

Garment, textile obtain highest trade surplus value in export items

After the US withdrew from the talks on Trans-Pacific Partnership (TPP), Vietnam’s garment and textile export met with difficulties in the first two quarters this year. However the industry has posted the record high trade surplus value taking the lead in export items.

Self - introduction

Stock market

Shares rise amid growing caution

Shares extended gains on November 23 but caution appeared among investors after the VN-Index hit its decade-high.