HÀ NỘI – The US and Japan imported garments and textile products worth US$15 billion from Việt Nam in 2016, the Việt Nam Textile and Apparel Association (Vitas) has said.
This accounted for 53.5 per cent of the garment and textile sector’s export turnover of $28.3 billion last year.
To meet its revenue target of $30 billion from exports in 2017, the sector will increase shipments to the US and Japan and maintain an export growth of 6 per cent in the two markets, Vitas said.
In 2016, Việt Nam’s apparel market performed lower than expected, with exports bringing in $28.3 billion, or 90 per cent of the target, up 5.7 per cent year-on-year.
Vitas attributed the low export turnover to fewer export orders because of fierce competition from foreign textile and garment producers as well as a decline in global demand.
Source: Vietnam News
Photo: CBR Investment AG