The textile and garment sector in Vietnam reported stable export growth in the first five months of 2014 compared to the same period last year.The export value of the textile and garment sector showed a rise of 17 per cent over the same period last year.
Textile and garment exports to major markets remained stable, with the US remaining the largest export market. From January to April this year, textile and garment businesses’ earnings from exports to the US were up 17.9 per cent compared with the same period in 2013.
The Japanese market ranked second and other large export markets were North Korea, Germany and Spain. Exports to smaller markets also showed a significant rise. Exports to the United Arab Emirates grew 131 per cent, Hungary 80 per cent, Mexico 62 per cent, Australia 45.3 per cent and Canada 31 per cent.
materials. Additionally businesses are under financial pressure resulting from increases in production costs such as electricity and transportation. Another problem is the lack of highly trained workers and an uneven distribution of them in regions throughout the country.
In addition a flood of counterfeit products is denting the image of many high-profile Vietnamese garment and textile businesses.