Vietnam Textile and Apparel Association (Vitas) forecasts that this year the main export markets for the country’s garment and textile industry will be the US, Japan, the EU, and South Korea.
Among the four key export markets, the US market will continue to be the largest importer while Japan will possibly surpass the EU to become the second largest with import turnover of about US$2.37 billion, an increase of 18 percent compared to last year.
Until now, most garment and textile producers have received orders to deliver by the end of the first quarter of this year. Some bigger companies have even received orders for the second and third quarters.
According to Vitas, this year the demand for garment and textile products will inch up marginally. Of which, the US market will tick up 3 percent; Japan will surge 18 percent; other markets will climb by about 5 percent, while the EU market will not drop much--unlike previous years.