Vietnam’s Targets Textile & Apparel Exports of US$30B This Year

Vietnamese textile and apparel industries have set this year’s export target at US$30 billion, which is a 6% increase over the previous year.

According to an official of the Vietnam National Textile & Garment Group (Vinatex), as a result of the growing U.S. economy, domestic and international textile and apparel markets are expanding. In order to achieve the 2017 export target, it would be necessary to speed up the increase in production among Vietnamese firms, gain support from the government and prepare the logistics system.

Textile and apparel exports in 2016 grew by 5.7% over the previous year to US$28.3 billion. Growth was maintained despite demand decreases in the major market of the U.S., EU and Japan.