Home / Knowledge / News / Apparel/Garments / Vietnam garment sector may miss US$17bn export target
Vietnam garment sector may miss US$17bn export target
Dec '12
It is doubtful whether the Vietnam textile and garment industry would be able to achieve its export target of US$ 17 billion set for the current year, the Vietnam Garment and Apparel Association (Vitas) has said.
With a month-on-month decline of 3.4 percent, Vietnam’s textile and apparel export turnover for November dipped to US$ 1.3 billion.
Thus, during the first eleven months till November, Vietnam has exported textiles and clothing items worth US$ 13.78 billion, which casts a doubt on achieving the US$ 17 billion target set for the current year, Vitas Vice Chairman Pham Xuan Hong said.
The Vitas official said that a major fall has been noted in the country’s exports to key markets this year. Exports to the EU declined by about 15 percent compared to last year and the declining trend is likely to continue even in the next year, the Viet Nam News reported. 
Another reason for low revenues is that customers shifted their focus from high-end items to mid-range products to cut expenses.
Vitas suggested that rather than relying on traditional markets, exporters should try to get new customers and should focus on exploring opportunities in other countries such as Japan, South Korea and the US. 
The association, however, anticipates a rise in fibre exports to Turkey, Africa, China and the Middle East, which is expected to boost the sector’s earnings in 2013.
Moreover, several Japanese buyers have inked deals with Vietnamese manufacturers, which will boost Vietnamese exports to Japan, next year. 
Meanwhile, the Ministry of Industry and Trade has launched trade promotion programmes in Thailand, Malaysia and Hong Kong to aid domestic firms increase their exports to these markets.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 22nd Apr 2017

Strong rupee & weak trade to affect textile exporters

Textile and apparel exporters' earnings and EBITDA margins will be...

Textiles | On 22nd Apr 2017

Myntra acquires InLogg

With an aim to strengthen supply chain and logistics, Flipkart-owned...

Textiles | On 22nd Apr 2017

Aditya Birla Group launches new variant Liva Crème

After its successful launch of high quality fabric Liva in 2015,...

Interviews View All

Nishank Patel
Shri Dinesh Mills Limited

Broad range of fabrics will sell well this financial year

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Poojaa Kumar Deepak

Zeven's performance sports apparel is designed for the Indian body type,...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Eric Scholler

The Indian market has huge potential in technical textiles, and by far,...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Sonam & Paras Modi

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

April 2017

April 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search