Garment export earnings surging during year-end months
Ha Noi, Dec. 2 (VNA)-- Viet Nam's textiles and garment export earnings in the first 11 months of this year surged to 2.45 billion USD, a year-on-year rise of 34.7 percent, according to the General StatisticS Office.
The export value of this staple has continuously increased in year-end months, with the figure in November alone reaching 270 million USD. The 2002 figure is estimated at 2.7 billion USD, or an increase of 36.7 percent over 2001, the highest export growth rate since 1997.
The rise was attributed to an expanded market share in the US, which absorbed a volume of goods 20 times bigger than last year's volume. The country's export turnover to this market is expected to rise to 850 million USD, or one-third of the total earnings.
The European Union also helped Viet Nam to an additional 150 million USD by increasing its 2002 quota for the country's garments and textiles by 25 percent.
For their part, Vietnamese garment making enterprises such as Viet Tien, Nha Be, Phuong Dong and Binh Minh have embarked on a "speed up" campaign to fulfil their 2002 plans. For the first time, the Phong Phu Textile Company and the Viet Tien Garment Company have turned over 1,000 billion VND each.
Almost all big enterprises have signed export contracts till mid-next year while some of them have signed export contracts with US partners for the whole 2003. Textile and garment businesses have invested hundreds of billions of Vietnamese dong in expanding production and renewing technology to increase exports.
Besides, these businesses have strongly expanded their sales agent networks in the country to cater to domestic demand.Earnings from the home market this year have markedly increased, accounting for 25 percent of the industry's total earnings.
Continuing with its export trend and the construction of 11 textile and garment industrial complexes, the industry expects to earn a record 3.15 billion USD next year.
