Garment exports improve market share to US in Q1

According to the Ministry of Industry and Trade, the garment industry is turning more and more optimistic with each passing month as orders keep on increasing in numbers leading them to place orders for their raw material requirements.

Till just a few months back lay-offs had become the order of the day, but now many companies report of carrying orders which can last them out till the end of October and some also mention that orders have gone up by 15-20 percent.

In totality, the market share of the Vietnamese garment sector, in its exports to the US has actually increased in the first quarter of 2009 to 4.74 percent from 3.4 percent in the same period of 2008 amongst all clothing imports in to the US.

In its exports to the European Union, the garment sector has been improving on the value of exports with each passing month. It has grown from around $100 million a month in March-May period to $160 million in the last month.

Clothing exporters meanwhile have also been able to penetrate the markets of the Middle East and the countries of the African continent along with making rapid strides in the markets of Japan on the strength of the recently signed free trade agreement.

Fibre2fashion News Desk - India


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