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| Illustrative image (Photo:SGGP) |
Currently, Vietnamese garments accounted for around 8-9 percent of market share in the US. This year, Vietnamese garment exports are expected to hit $10 billion and reach $20 billion before 2020. Garments contributed more than one third to $25 billion exports of Vietnam to the US market in 2013.
In other markets, Vietnamese garment exports also saw optimistic growth. Although EU only grew 0.5 percent, South Korea increased 9 percent, and Japan declined 0.5 percent, Vietnamese garment exports to these markets were still at high levels.
Of the $19.8 billion garment exports in 2013, EU market accounted for nearly $2.7 billion, up 8.8 percent; Japan accounted for more than $2.4 billion, up 20 percent; and South Korea accounted for $1.87 billion, up nearly 44 percent.
