Textile exports to hit $28.5b
Việt Nam’s textile and garment exports this year are estimated to reach US$28.5 billion, meeting roughly 92 per cent of the set plan due to market difficulties, the Việt Nam Textile and Apparel Association (Vitas) reports. Việt Nam’s textile and garment exports this year are estimated to reach US$28.5 billion, meeting roughly 92 per cent of the set plan due to market difficulties, the Việt Nam Textile and Apparel Association (Vitas) reports. According to the association, the industry’s largest export market in 2016 remains China, which accounts for more than half of the industry’s export value. Exports to the US this year are also estimated at $11.4 billion, up 4 per cent against last year. The EU, Japan, India, Brazil, Russia and Canada were also large importers of Việt Nam’s textile and garments in 2016, the association reported. The association attributed the low export turnover to a lack of export orders in 2016 due to fierce competition from foreign textile and garment producers, while global demands declined.
