Garment, textile export turnover expected to reach $31 billion

HCMC Textile, Garment, Embroidery and Knitting Association (AGTEX) forecast that the industry’s export turnover will reach US$5.27 billion in November and December and $31 billion this year, a year on year increase of 10.23 percent.

Nha Be Garment Corporation (Photo: SGGP)

Nha Be Garment Corporation (Photo: SGGP)

2017 is not an advantageous year but garment and textile has obtained satisfactory growth, said the association.
Besides traditional markets such the US, the EU, Japan and South Korea;  China, Russia and Cambodia have posted good growth rates.
Export items have been diversified with high added value products including cloths, fiber and materials.
At present, businesses are sprinting to complete signed contracts and set plans. In addition, many large firms have got orders for the first quarter of next year.
AGTEX forecast that 2018 will be better than 2017 for the garment and textile industry with growth rate remaining at two digit numbers.

By PHONG LAC – Translated by Hai Mien

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