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Vietnam garment and textile exports to reach $18.5 billion

Vietnam’s exports of garments and textiles are predicted to reach $18.5 billion in the second half of the year, bringing the country’s total export turnover to $35 billion. This strong performance can be attributed to the slew of bulk orders stretching to the end of the year. The total garment and textile export turnover in the first half of the year surged 16.49 per cent to $16.5 billion against the same period last year.

The sector also recorded high growth in exports to key markets such as the US, EU, Republic of Korea, China, ASEAN and member states of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). Some businesses reported strong export performance including Tinh Loi (Regent Garment), Viet Tien Garment Joint Stock Corporation, Regina Miracle, and Worldon Vietnam.

To achieve double digit growth, the sector should focus on increasing labour productivity, reducing delivery times, and building an efficient logistics network, while investing in advanced technologies to improve the quality and design of products to conquer the local market and penetrate foreign markets.

 

 
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