According to Vietnam Textile and Apparel Association (Vitas), garment and textile products exports from the country to US and Japan mounted to US $ 15 billion in the year 2016. This accounted for 53.5 per cent of Vietnam’s garment and textile sector’s export turnover last year. During 2016, Vietnam recorded a total turnover of US $ 28.3 billion.
The textile and garment industry in Vietnam has set a growth target of 6.5-7 per cent to US $ 30 billion this year. This was announced by Le Tien Truong, General Director of Viet Nam National Textile and Garment Group (Vinatex), a Vietnamese state-owned textile company. Vietnam is also planning to further increase its shipments to the US and Japan.
Also Read – Vietnam aims for 6.5-7% growth in textile & apparel export
The industry experts in Vietnam are expecting to reach this target due to growth in the US economy and increased consumption in the market. Such conditions would bring cheer to garment industry in meeting their target in export values this year.
