Nguyen Tien Vy, Director of the Ministry of Industry and Trade's Planning Department has said that the textile output in Vietnam last month reached 32 million sq. mtr., posting an 8 per cent year-on-year increase. In the first 10 months of the year, the output of natural fabric was estimated at 259 million sq. mtr., increasing 1.9 per cent over the same period last year while that of synthetic fabrics was 547 million sq. mtr., reducing 5.6 per cent from the corresponding period last year.

The export turnover of garments and textiles last month was $2.2 billion, representing a 13.6 per cent rise from the same period last year. The turnover from January to October posted a 10.4 per cent year-on-year increase to 20 per cent. Vy said the ministry has asked relevant agencies to take measures to resolve difficulties being faced by the businesses in the sector while exploring new markets, partners and orders. In addition, it has implemented measures to improve the business environment.

However, he said Vietnam would find it hard to achieve this year's export growth target of 10 per cent due to the decreasing prices of several export products. Its trade deficit through the end of October this year increased to $4.1 billion from $3.9 billion in the first nine months. During the first 10 months, the total export value gained a year-on-year surge of 8.5 per cent to $134.6 billion, while the total import value had a year-on-year increase of 14.3 per cent to $138.7 billion.

“The country should strive to reach the export turnover of $15.2 billion each in the last two months of the year as total turnover in the 10-month period was only $134.6 billion or 82 per cent of the whole year's target," he added.

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