According to the ministry of industry and trade (MoIT), Vietnamese textile-garment export turnover reached $4.89 billion in the first two months of this year, up 19pc year-on-year. Products witnessing significant export growth included fabrics made from natural fibers at 14pc, fabrics from synthetic fibers at 14pc and apparel at 11pc.
The positive performance was attributed to many firms receiving orders for the first six months of this year or even the entire year.
Mr Pham Xuan Hong, Chairman of the Ho Chi Minh City Textile and Garment-Embroidery Association said, “The prospects of the domestic textile and garment industry seemed quite positive this year because of adequate external orders.”
According to the Vietnam Textile and Apparel Association (VITAS), the industry is projected to generate $40 billion from exports by the end of this year, up 10.8pc year-on-year. The industry’s trade surplus was expected to reach $20 billion this year.
In 2018, export turnover of garments and textile products reached more than $36 billion, marking a year-on-year rise of 16pc.