- Apparel and textile sector earns US $ 9.4 billion in the first 4 months of 2019
- This is a 9.8 per cent jump year-on-year
- In April, industry earns an impressive US $ 2.3 billion
Vietnam has, reportedly, raked in more than US $ 9.4 billion by exporting apparels and textiles during the period from January to April 2019.
While confirming this, the Ministry of Industry and Trade said that the amount earned is a 9.8 per cent increase year-on-year.
In fact, in April alone, the country’s garment and textile sector generated US $ 2.3 billion from exports, which is a jump of 7.1 per cent.
The increase hasn’t come as a surprise as several garment companies were booked for the first 6 months of 2019, with some of them being booked till December 2019. Many industry experts, therefore, predict that the industry will surpass its projected apparel and textile export target of US $ 40 billion much before the year ends.
In 2018 too, the garment and textile export target was revised to US $ 35 billion in the middle of the year; however, the country went on to achieve an impressive US $ 36 billion by the end of 2018. [Read our story: Vietnam sees highest apparel and textile export turnover in 3 years ]
However, one area where Vietnam still struggles is with its inability to satisfy the export market with the quality of its local cloth, which is below average.
