Garment, Textile Export Tops US$3.2 Billion in Q1

The General Statistics Office (GSO) said garments and textiles retained their role as Vietnam’s leading exports in the first quarter of 2012, with earnings of over US$3.2 billion, a year-on-year rise of 15.4 percent. Shipments to traditional markets maintained steady growth momentum.

 

According to experts, 2012 is a challenging year for the garment and textile industry. Shipments to traditional markets like the United States and Europe are likely to face more difficulties resulting from the European debt crisis. Orders for this year’s shipments tend to decline from a year earlier. Besides, due to falling demand, rival exporters like India and Indonesia have accepted lower prices to attract orders.

 

Under this circumstance, according to experts, to sustain apparel export in 2012, Vietnamese companies should seek new markets in addition to traditional ones.