Vietnam's Exports Of Clothing And Textiles In 2012 Were 150&Nbsp; Billion Dollars.

The vice president of Vietnam textile and clothing association (Vitas) and Mr. Le Tien Truong, vice president of Vietnam National Textile and Garment Group (Vinatex), reported the achievements and Strategies of Vietnam's clothing and textile industry. clothing Textiles and textiles are the main export products of Vietnam. Clothing and textiles have completed the 2011 plan ahead of schedule.

Clothing and textiles account for 17% of Vietnam's total exports. In the context of slowing economic growth, expanding trade deficits and fluctuating material prices, the textile and garment industry still completed a trade surplus of US $6 billion 500 million in 2011, an increase of US $1 billion 500 million compared to 2010. It is worth noting that Vietnam's synthetic fiber exports made nearly $2 billion. Investment in synthetic fiber production also helped Vietnam's localization rate increase from 46% in 2010 to 48%.

This year, the delivery value to the US increased by 14%, the European Union increased by 41%, and Japan increased by 52%.

In 2011, domestic sales increased by only 12%. In view of the economy difficulty Demand has shrunk, and domestic sales have increased by 12% this year, compared with an increase of 30-35% in previous years. In the past, middle income earners could afford top quality products, but now they can only afford public products.

Vinatex group restructured its business to improve production and business efficiency. The group will expand its cotton planting area to 15000 hectares in 2012, and encourage subordinate companies to use domestic materials, machinery and equipment to reduce costs.

Despite potential challenges in the global market, Vietnam's export target for clothing and textiles in 2012 was US $15 billion. It's not difficult to win the order, but the price will change. Vinatex group will continue to increase the efficiency of all its internal links and enhance the competitiveness of the group and its member companies. Costumes - textile industry improves each FOB Order Value, reduce reliance on offshore outsourcing contracts, and increase ODM orders.

Clothing and textile companies will adhere to the niche strategy of specific products. In 2012, demand from major markets such as the United States, the European Union and Japan may shrink due to financial difficulties.