Apparel Industry grows in Vietnam

[jackmorres]

The apparel and textile industry in Vietnam has overtaken crude oil as that country's No. 1 export.

During the first 10 months of this year, Vietnam shipped $7.5 billion in apparel and textiles to primarily the United States and Europe, according to the Vietnamese General Statistics Office.

Vietnam's apparel manufacturing sector has grown rapidly ever since the U.S. government early this year stopped monitoring Vietnamese apparel coming into the United States. The Bush administration feared that Vietnam would dump apparel goods on the U.S. market and started closely watching import prices in 2007 to determine whether anti-dumping duties should be imposed.

The Department of Commerce held six-month reviews of five different apparel products-trousers, shirts, underwear, men, swimwear and sweaters-but found no signs of dumping.