Vietnam’s Q1 textile exports turnover seems to recover
The first four months of the current year have been profitable for Vietnam as there was an increase in the export of textile and garments. As per the Ministry of Industry and Trade, it has earned over $9.5 billion in Q1.
Hanoi, Vietnam
April saw a huge profit as Vietnam’s textile and garment exports rose by
42.2 %. During the initial four months, the demand in the key market recovered
and the sector saw some positive changes. Coupled with this positive impact,
Vietnam also joined the free trade agreements according to the ministry.
It is also said that many export items like
fabric and clothes from natural fibres also gained the growth momentum.
According to China’s General Static Office, Vietnam also recorded an export
turnover of around $29.5 billion in this sector. This figure is 10.2% down as
compared to that of the previous year but is still acceptable considering the
effect of the pandemic. Other large export markets in this sector include
Japan, South Korea, China, the European Union, and the United States.
Source: China.org.cn
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