Garment, textile exports targeted at US$28 billion in 2015

Vietnam’s garment and textile industry targets at an export turnover of US$28-28.5 billion this year, said the Vietnam Textile and Garment Association.

Production of export clothes at Saigon 3 Garment Company (Photo: SGGP)

The export turnover exceeded US$24 billion last year, a year on year increase of 19 percent. Of these garment products yielded US$21 billion up 17 percent over the same period last year and fibre exports brought over US$3 billion.

Export value to the United States market was estimated at US$9.8 billion, up 12.6 percent against 2013 however, it is forecast to be topped US$11 billion this year.

The export value to the EU went up 17 percent, reaching US$3.4 billion and is expected to hit US$4 billion this year.

Vietnam National Textile and Garment Group said they would invest about VND9 trillion (US$421.15 million) in building up a material production zone in the 2015-2016 period, aiming to reduce dependence on imports.

The group is expected to be able to supply their businesses with 55 percent of cloth types by 2017.

By T.Tuyet – Translated by Hai Mien

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