The GSO said the sector’s export turnover in the first three months was up 15.4 percent against the same period last year. In March alone, it reached US$1.15 billion, a slight increase compared to the previous month.
At the end of February, the US remained Vietnam’s largest importer of garments and textiles with US$1.08 billion, up 20.7 percent over last year and making up 51.7 percent of the country’s total export turnover, followed by the European Union (EU) with US$322 million, Japan with US$226 million, and the Republic of Korea with US$172 million.
Economists said due to the EU debt crisis, consumers have tightened expenditures, leading to expected decreases in Vietnam’s garment and textile exports to traditional markets such as the US and EU in the coming time. They added that to maintain stable growth of the sector, businesses should make great efforts to seek opportunities in new markets.
Currently, local businesses are finding ways to penetrate and increase exports to such markets as the Republic of Korea, New Zealand, India and Russia.
(VOV)
