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Vietnam:August textile exports set to zoom |
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2005-8-25
Vietnam Textile and Apparel Association (Vitas) report that August textile exports have crossed the target of US$500 million mark after it reported highest textile exports for a month in July, at $496 million.
Textiles earnings for the country stand second to crude oil exports, and US leads among export destinations for Vietnamese textiles, importing $1 billion worth goods and not stopping at all, says Vitas.
The July figure was up 12.4 percent over June according to Vitas release indicating a rebound after missing targets for past seven consecutive months.
In total revenue terms, the figure stood at $2.54 billion during January to June period, which was just 0.2 percent above compared to same period last year.
This however is a shade of growth rate in 2003 and 2004, which stood at 23 percent and 20 percent, respectively.
Further, August export performance is set to a sharp rise by over 15 percent than that in July, sources said.
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