Vietnam to Earn US$5 Bln from Garment Exports to U.S. in 2008

Vietnam will ship US$5 billion of apparel products to the U.S. this year, up US$400 million from last year, the Tuoi Tre newspaper reported, quoting the American Chamber of Commerce (AmCham).

 

AmCham predicted that Vietnamese textiles and garments to the U.S. market will still see impressive growth in 2008.

 

With the export turnover, Vietnam will outstrip Mexico and India to win the second position, just behind China, in shipping apparel products stateside this year, according to the chamber.  

Noticeably, Vietnam still saw a growth rate of 22 per cent in garment exports to the U.S. in the first nine months this year while other countries witnessed a reduction.

 

According to the General Statistics Office (GSO), Vietnam will export an estimate of US$8.38 billion worth of textiles and garments in the first eleven months this year, up 19.1 per cent on-year. The figure for the whole year is expected to reach US$9.2 billion-US$9.3 billion. (Youth, GSO Nov 2008)