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  Garment and textile industry increases market shares
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Garment and textile industry increases market shares
Garment and textile industry increases market sharesWith the prediction of favourable conditions the garment sector plans to earn more than US$13 billion from exports in 2011. Experts say that most investors will prefer to invest in garments rather than in textile and dyeing this year.

According to the Vietnam Textile and Apparel Association (Vitas), the sector reached US$11.7 billion in export turnover in 2010, US$6 billion of which was from the US market, up 22 percent compared to 2009. Despite a number of difficulties, garment and textile exports still grew by 14 percent in the EU market to hit US$1.8 billion and the market shares also saw a slight increase of 2.02 percent. Vietnam’s garment and textile exports to Japan reached US$1.2 billion in 2010, an increase of 20 percent over 2009. This was the first time garment exports has hit more than US$1 billion. Currently, Vietnam accounts for 2.5 percent of the total global garment market share.

Experts say that most investors will prefer to invest in garments rather than in textile and dyeing this year.

According to the Vietnam Textile and Apparel Association (Vitas), the sector reached US$11.7 billion in export turnover in 2010, US$6 billion of which was from the US market, up 22 percent compared to 2009.

Despite a number of difficulties, garment and textile exports still grew by 14 percent in the EU market to hit US$1.8 billion and the market shares also saw a slight increase of 2.02 percent.

Vietnam’s garment and textile exports to Japan reached US$1.2 billion in 2010, an increase of 20 percent over 2009. This was the first time garment exports has hit more than US$1 billion. Currently, Vietnam accounts for 2.5 percent of the total global garment market share.

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