VN becomes fifth largest garment exporter in the world
17:11 | 11/07/2018

VGP - The country’s garment sector has seen strong growth in recent years, helping Viet Nam become the fifth largest garment exporter in the world.

From January to June 2018, the garment firms in Viet Nam exported products worth US$ 16 billion up 14% compared with the same period last year.

The major products exported were T-shirts, dress shirts, and coats. Markets like the U.S., the EU, China, the Republic of Korea and, importantly, CPTPP member nations too witnessed rapid growth in the first 6 months of this year.

Last year, the garment and textile exports had generated an impressive US$ 31 billion. However, what is interesting is that the initial export target for 2018 (US$ 34 billion) was revised recently to US$ 35 billion.

The country’s garment sector has a bright outlook to expand its market in the future thanks to several free trade agreements with a series of key partners, experts said.

The revision was done owing to significant increase in orders from foreign companies. 

Additionally, upcoming FTAs are also expected to give a big boost to the garment industry of the country.

                                                                                                                By Vien Nhu

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