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Vietnam: Growth expected in textile, footwear export turnoverFriday, February 06, 2015 > 09:21:06
Several Vietnamese companies have received full orders for textile products by the end of the first quarter of this year, according to the Ministry of Industry and Trade.
The ministry said that some large firms have also received orders for delivery by the end of the second quarter.
In January, the textile and apparel export turnover was expected to be US$1.9 billion, a 1.2 per cent increase year-over-year.
The output of textile products has increased, compared with January 2014. The production of textiles made from natural fibres is estimated to rise by 9.7 per cent to reach 25.2 million sq. metres, while that of synthetic-fibre and man-made-fibre textiles will see a 14.8 per cent boost to touch 61 million sq. metres.
The turnover of footwear exports is estimated to increase by 23.2 per cent in comparison with January last year, gaining $1.05 billion.
The production of shoes and sandals this January is expected to reach 24 million pairs, a 19.8 per cent increase over January 2014.
The significant increase in the turnover of footwear exports comes from FDI companies, rather than state-owned firms.
The ministry said that in order to take advantage of preferential trade agreements, local enterprises need to be more proactive in producing and diversifying material resources. It also asked them to do research to meet the demands of customers, and enhance the added value of exported products.