Vietnam’s garment and textile exports to touch US $ 39B by year end

by Apparel Resources News-Desk

16-December-2019  |  1 min read

Garment factory vietnam
Image Courtesy: foreignpolicy.com

Vietnam’s garment and textile industry is all set to clock an export turnover of US $ 39 billion in 2019.

With 15 days still to go, the industry is riding on high confidence and expects the numbers to go up.

The Vietnam Textile and Apparel Association, or VITAS, said that achieving US $ 39 billion distinctly indicates a growth of 7.55 per cent compared to what it was in 2018 (US $ 36 billion).

What’s more noteworthy is that it’s a 22-fold rise from what it was 20 years back. The industry back in 1999 had attained an export turnover of just US $ 1.75 billion.

Achieving US $ 39 billion so far, the garment and textile sector has also attained a trade surplus of US $ 16.6 billion – an increase of US $ 2.25 billion from that in 2018.

VITAS added that the industry plans to achieve at least US $ 42 billion in 2020 and is in the right direction to achieve its target of US $ 60 billion by 2025.

Watch this space for more information on the same!

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