The export numbers for Vietnam’s apparel and textile industry are out for the first 5 months of 2019. And they are good enough to indicate that the industry is heading towards right direction.
This was confirmed by the Ministry of Industry and Trade today in its report.
The Ministry said that the country has seen a year-on-year (y-o-y) growth of 10.3 per cent in the export of apparels and textiles in the first 5 months of the year, earning around US $ 12.1 billion.
It also added that the turnovers of country’s apparels and textiles exported to the Association of Southeast Asian Nations or ASEAN surged by a whopping 31.6 per cent.
The figures have been equally impressive with regard to other countries as well. The country has seen a turnover rise of 16.3 per cent, 9.8 per cent and 6.5 per cent to South Korea, USA and Japan, respectively.
It is imperative to note that in May alone, the apparel and textile export turnover was US $ 2.6 billion at a y-o-y of 10.8 per cent.
Going by the numbers, it will not be a surprise if Vietnam’s apparel and textile export turnover touches the projected US $ 40 billion much before the year ends.