Apparel firms enjoy better business on rising orders
Textile and garment firms have enjoyed a more robust business result on the back of an increase in orders which helped the sector gain 16.52 billion USD in export revenue in the first half of this year, up 4.6% year-on-year, according to the Vietnam National Textile and Garment Group.
During the six-month p, key export markets of the Vietnamese products were the US (7.21 billion USD, up 3.6% against the same time last year), the EU (1.95 billion USD, up 0.8%), Japan (1.87 billion USD, up 6.8%), and the Republic of Korea (1.36 billion USD, up 1.1%).
Particularly, export revenue in the second quarter rose 11.2% year-on-year to 8.7 billion USD.
Hoa Tho Textile – Garment JSC’s profit after tax during April - June surged 110% to 69 billion VND (2.72 million USD), the largest ever over the past seven quarters. Meanwhile, the figure for the first half was more than 115 billion VND, as compared to only 75 billion USD recorded in the same time last year.
In the same vein, TNG Investment and Trading JSC announced that it bagged 86.3 billion VND in net profit in Q2, and over 129 billion USD in the first half, up 61.6% and 37.7% year-on-year, respectively.
Meanwhile, Thanh Cong Textile Garment – Investment – Trading JSC enjoyed a profit of 147.5 billion VND in the first half, rising 29% against the same period last year.
Other enterprises achieving robust profits included Huu Nghi Garment JSC (25.8 billion VND, up 33%), and Tien Son Thanh Hoa Group JSC (6 billion VND, up 361%).
However, several firms expressed their concern over the possibility of strong devaluation of domestic currencies in some countries to support exports, high shipping fees, as well as rising power cost and financial charges in the coming time.
Besides, an acute shortage of skilled workers is exerting pressure on the sector, which has targeted 44 billion USD in export revenue this year./.
Related News
Latest News
US issues final determination on Vietnamese aluminum anti-dumping probe
14:16 | 17/10/2024 Import-Export
Problems with seafood materials will be reviewed and resolved after the EC inspection
13:52 | 17/10/2024 Import-Export
Ho Chi Minh City: Enterprises have abundant export orders
07:41 | 16/10/2024 Import-Export
Shrimp exports bring home nearly 2.8 billion USD in nine months
13:49 | 15/10/2024 Import-Export
More News
Import and export potential growth promised to be vibrant in 6 end- year months, many industries welcome opportunities
09:30 | 15/10/2024 Import-Export
Seafood exports soar to new heights in the third quarter
09:29 | 15/10/2024 Import-Export
Understand businesses and markets to expand cooperation opportunities with the United States
09:29 | 15/10/2024 Import-Export
Linkage - the "key" to sustainable development of agricultural value chains
09:15 | 14/10/2024 Import-Export
Supporting industry enterprises: Learning standards, understanding opportunities
09:46 | 13/10/2024 Import-Export
Vietnam’s distinctive agricultural exports to China exhibited in Hanoi
00:00 | 13/10/2024 Import-Export
100 most valuable Vietnamese brands on the limelight
18:55 | 12/10/2024 Import-Export
Need to quickly act to catch up with the "green" trend
10:59 | 12/10/2024 Import-Export
Businesses cooperate to develop advanced technology
10:58 | 12/10/2024 Import-Export
Your care
US issues final determination on Vietnamese aluminum anti-dumping probe
14:16 | 17/10/2024 Import-Export
Problems with seafood materials will be reviewed and resolved after the EC inspection
13:52 | 17/10/2024 Import-Export
Ho Chi Minh City: Enterprises have abundant export orders
07:41 | 16/10/2024 Import-Export
Shrimp exports bring home nearly 2.8 billion USD in nine months
13:49 | 15/10/2024 Import-Export
Import and export potential growth promised to be vibrant in 6 end- year months, many industries welcome opportunities
09:30 | 15/10/2024 Import-Export