Textile and garment exports reach 31 billion USD

On December 15, in Da Nang, the Vietnam Textile and Apparel Association held a conference to summarize the textile industry in 2017.

According to a report by the Vietnam Textile and Apparel Association, in 2017, Vietnam’s textile and garment export turnover reached 31 billion USD, up 10.23% compared to 2016.

In which, exports to the US reached 12.53 billion USD, up 9.4% compared to 2016; EU market is estimated at 3.7 billion USD, up 5.4%; the Japanese market reached 3.05 billion USD, up 5.2%; the Korean market reached 2.59 billion, up 13.2%; the Chinese market reached 1.04 billion USD, up 26%; ASEAN market is forecasted to reach 900 million USD, up 9.1%.

In 2017, “Vietnam’s textile and garment” had 8 key export products estimated to reach a turnover of 1 billion USD or more, which are T-shirts, jackets, pants, children’s clothing, skirts, underwear, fabrics. .

In the domestic market, with a population of nearly 95 million people and improved living standards and income, Vietnam is a very potential market for the textile and garment industry. Under the impact of the  industrial revolution 4.0, the major textile and garment importing countries in the world tend to bring textiles and garments back to their home countries, instead of outsourcing exports to countries with low labor costs. This puts pressure on Vietnamese textile and garment manufacturers to pay attention to gradually dominate the domestic market, ensuring a balanced development between export and domestic markets.

With the potentials and advantages of development, the Association said that it has built specific goals for the period 2018-2025, which focuses on investment in restructuring the industry, catching up with the opportunities of the 4.0 technology revolution. , applying advanced technology for investment, gradually balancing from yarn, weaving, dyeing to garment and improving productivity, quality and product class; to attract polluting textile dyeing projects to concentrated industrial parks with wastewater treatment systems, and garment projects to rural areas with a large number of workers; strengthen cooperation, joint ventures and linkages between domestic  enterprises textiles, domestic  enterprisesand foreign investment.

Focus on exploiting traditional markets, step by step penetrating the Vietnamese market that has just signed an FTA to exploit the advantages of tariffs, and promote the exploitation of the EU market; focus on building and affirming the fashion brand of Vietnam’s textile and garment; planning to promote to the world market; focus on developing human resources, linking with training institutions to improve workers’ skills. Especially researching and applying advanced and modern technology to production; grasp the trend and development speed of the 4.0 industrial revolution to adapt to the progress of the world…

Speaking at the conference, Mr. Cao Quoc Hung, Deputy Minister of Industry and Trade highly appreciated the achievements of the textile and garment industry. Overcoming the challenges of 2017, in 2018, Vietnam’s textile and garment industry will have many favorable factors. It is expected that in the near future, many trade agreements will be signed, which will be an important lever in trade promotion activities, creating favorable conditions for market expansion for the textile industry.

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