Illustrative photo (Photo: VNA)Hanoi (VNA) - Vietnamearned 6.75 billion USD from garment and textile exports in the first quarterof 2017, up 12.4 percent against last year, according to the Vietnam Textile and Apparel Association (VITAS).
Exports to new markets grew strongly, with Russia up 115 percent,Singapore 38 percent, Cambodia 36 percent and Brazil and India 34 percent.
Traditional markets like the United States and the European Union sawmore humble export growth at 6.3 – 6.4 percent.
The VITAS noted that traditional products grew by 13 – 17 percent whilenewer ones, including swimming suits, raincoats and scarves, increased by 18 –41 percent.
New products and different ways to approach markets have resulted inhigher and more stable growth, while helping the industry rely less ontraditional partners, the VITAS said.
The association forecasted exports to increase by 10 percent in thesecond quarter of the year based on the recovery of main markets such as theUS, the EU and Japan as well as the stability of the global economy andpolitics.
The industry aims of a 10 percent growth to reach 31-32 billion USD inexport turnover in 2017.
To achieve the goal, businesses have been encouraged to invest in newequipment and enhance competitiveness with new technologies. -VNA
