Garment exports hit US$13.65 billion in 8 months
(VOV) -Garment and textile exports in the first eight months of the year accelerated 19.7% on-year to US$13.65 billion, according to the the Ministry of Industry and Trade (MoIT).
In August alone, garment exports were US$2.2 billion, up slightly 0.2% over July but a significant jump of 20.9% over exports for August 2013.
Dang Phuong Dung, Secretary General of the Vietnam Textile and Apparel Association (Vitas), said despite the increase in exports, added value of the local garment industry is still not up to snuff due to overdependence on imported input materials.
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Dung attributed the rise in exports to the active participation of the industry in the global supply chain.
The sector is currently installing modernized equipment using the latest production technology, which helps improve product quality. The new equipment is also resulting in increased added value and helping diversify product lines, Dung said.
Le Tien Truong, Director General of the Vietnam National Textile and Garment Group (VINATEX), in turn said the domestic garment sector has the requisite production experience and management skills to be competitive in the global marketplace.
It also has an a sufficient workforce comprised of skilled workers to meet the requirements of demanding markets, creating a firm foundation for developing original design manufacturer (ODM) and free-on-board (FOB) products, Truong said.
However, to increase added value, he said, local garment producers need to nurture human resource development, enlarge the support industries, and study the markets carefully.