Vietnam garment exports rise 16.7% to $6.39bln in jan-may

Vietnam is estimated to have earned $6.39 billion from exporting garment and textile products in the first five months of this year, up 16.7% from a year earlier, said the government’s General Statistics Office (GSO).

The country fetched $1.4 billion from shipping these products abroad in May, compared to the revised figure of $1.24 billion in April, the office noted.

During the five-month period, the garment and textile sector remains the country’s second largest foreign currency earner for taking up 12.8% of the total national exports.

The Vietnam Textile and Apparel Association (Vitas) has signed an agreement to expand their exports to the EU-the third largest importer of Vietnamese garments,which will help improve access to high-quality fabrics and accessories for small and medium enterprises (SMEs) andto services for FOB production for local garment makers. Although the domestic economy is predicted to continue facing difficulties this year, the local apparel sector remain optimistic about 2013 growth with an export target of upto $18.6 billion-$19.2 billion, compared to the last year’s figure of $17.2 billion.