In The First Half Of The Year, Vietnam'S Textile And Clothing Sector Saw A Year-On-Year Growth Of 17.2%.

　　 In the first six months of this year, Vietnam's clothing and textile industry earned 4.8 billion dollars, said Li Guoan, president of the Vietnam Textile and Clothing Association (Vitas).

In the first half of this year, the revenue of Vietnam's textile and clothing sector increased by 17.2% year on year.

Li Guoan said that in June this year alone, the export revenue of the textile and clothing industry reached 800 million dollars.

The garment industry is Vietnam's largest export revenue generating industry. In the first half of this year, the export volume was 1.7 billion dollars higher than the export revenue of crude oil, which is the second largest export commodity of Vietnam.

In the first two quarters of this year, Vietnam U.S.A Of Trade The year-on-year growth rate was 15%, while the trade with Japan increased by 10%. Clothing exports to the European market also showed a slight increase.

Vietnam's clothing products account for about the world's total market share 2.7%. In the United States and Japan, Vietnam's export products ranked second, second only to China, with 7.4% and 4% market shares respectively, according to the Vietnam Textile and Clothing Association.

Vietnam's clothing sector has completed 47% of this year's export target of US $10.5 billion, and Li Guoan believes that this year's export target can be achieved. He expects that Vietnam's textile and garment industry will continue to grow in the rest of this year, because many domestic garment exporters have signed orders and will fulfill them before the end of this year. The export price has increased by about 10% last year.

Vietnam's garment industry is currently committed to reducing production costs and implementing advanced technology, which is to improve productivity and competitiveness.

Regarding sales in the domestic market, Li Guoan said that clothing and textile production units achieved a growth rate of 15-18% in the first half of this year.

However, Li Guoan acknowledged that the clothing industry must quickly reverse the labor shortage and transfer to provinces and rural areas that can hire more workers.

Vietnam's clothing industry also plans to increase the use of local products, which is to gradually reduce the dependence on imported raw materials. According to the figures of the General Bureau of Statistics, in the first five months of this year, Vietnam spent 3.7 billion dollars to import the raw materials needed by the clothing and footwear departments.

Vu Duc Giang, general manager of Vinatex, said that the company has invested nearly 15.3 billion Vietnamese dong (805000 US dollars) so far to produce fiber, cotton and dyes, which is to increase the utilization rate of local materials in industry to 50% and 70% in 2011 and 2017, respectively.

Last year, Vietnam's garment industry was the country's main export income industry, despite the impact of the global economic downturn.

The clothing sector's revenue reached $9 billion, down 1.3% year on year.