Vietnam Apparel Exports to US Up 20.49 per cent in Jan -May

Vietnam’s garment and textile exports to the US were estimated to have reached US$1.6 million in the first five months of this year, up 20.5 per cent on-year, said the Ministry of Trade.

 

The modest growth was mainly attributed to the US’s monitoring mechanism, said local apparel exporters, adding that among eight categories affected, the strongest growth was 32.03 per cent while the sharpest fall was 6.59 per cent.

 

The statistics proved that the US monitoring mechanism towards Vietnam apparel exports sounds unreasonable, the ministry noted.

 

Vietnam’s textile and garment exports stateside may drop 50 per cent and about 80 per cent of Vietnamese garment companies are being under the threat of bankruptcy if the US Department of Commerce (DOC) issues a negative judgment on the Vietnam apparels, Le Quoc An, Chairman of the Vietnam Textile and Apparel Association.

 

Last year, Vietnam’s apparel exports reached over US$5.8 billion, up 22 per cent on year, including US$2.2 billion worth exports to the U.S., up 25 per cent on year.

 

(Youth, Thanhnien Online)