It’s December and Vietnam may see its apparel and textile sector struggle to reach the export target of US $ 40 billion.
However, if what Vietnam Textile and Apparel Association (VITAS) said is anything to go by, then the industry will still be growing.
Vu Duc Giang, Chairman, VITAS said that the export value of country’s apparel and textile sector should be around US $ 39 billion by the time the year ends.
Now that will be a growth of 7.5 per cent!
VITAS considers the growth to be noteworthy as Vietnam has managed to achieve it despite economic slowdown and trade tension between the economic giants all through the year.
The Chairman added that apparel and textile sector’s import turnover may also witness a rise of 2.2 per cent year-on-year to touch US $ 22.3 billion.
He said that trade surplus will also increase by the time 2019 ends. It will be US $ 16.6 billion, which is US $ 2.2 billion more than what it was last year.
The Chairman also said that VITAS will be organising a function on 13 and 14 December 2019 to commomerate its 20th founding anniversary.
By that time we may also get to know the exact export numbers!
