Home / Knowledge / News / Apparel/Garments / Vietnam's garment-textile exports to exceed $40 bn: VITAS

Vietnam's garment-textile exports to exceed $40 bn: VITAS

25
Apr '19
Vietnam
Vietnam’s garment and textile exports exceeded $36 billion last year and is expected to top $40 billion this year, according to the Vietnam Textile and Apparel Association (VITAS), whose chairman Vu Duc Giang recently said 7,000 enterprises in the sector provide jobs to 3 million. The growth of industry rose from 12 per cent in 2010 to 16 per cent in 2018.

While garment and textile export turnover of China posted negative growth with export turnover to the United States and the European Union being minus 0.37 per cent and minus 2.13 per cent respectively, the same for Vietnam was 7.57 per cent and 8.97 per cent respectively.

This will force Chinese garment and textile companies to shift investments to Vietnam to take advantage of the benefits and market gap that free trade agreements brought to Vietnam, according to a Vietnamese media report.

Vietnam’s garment and textile sector is expected to receive investments of up to $7 billion from China, $2.1 billion from South Korea, $1.6 billion from Taiwan and $0.75 billion from Japan. (DS)

Fibre2Fashion News Desk – India


Must ReadView All

Pic: DWilliams from Pixabay

Textiles | On 21st May 2019

US tariff hike on Chinese textiles: Advantage India

The inclusion of chapters 50-60 in the recently imposed additional...

Pic: Lena Vanel from Pixabay

Textiles | On 21st May 2019

US CPSC considering changes to flammability standards

The US Consumer Product Safety Commission (CPSC) is requesting...

Australia, ILO work to raise Bangla working conditions

Apparel/Garments | On 21st May 2019

Australia, ILO work to raise Bangla working conditions

Australia and the International Labour Organisation (ILO) have...

Interviews View All

Nitin Bhatia, Trend Arrest

Nitin Bhatia
Trend Arrest

Setting up a brand for online selling is easy, but running the brand is not

Stefan Warnaar, Peak to Plateau

Stefan Warnaar
Peak to Plateau

People are willing to pay for quality and performance

Top executives, Textile industry

Top executives
Textile industry

Sri Lanka has a good sustainable track record and strong stories to back it

Harsh Shah,

Harsh Shah

Fynd is the central online shopping destination for fashion, offering...

Vikas Banduke,

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Deepprakash Agrawal,

Deepprakash Agrawal

Radhey Weaves is a Surat-based manufacturer of brocade fabrics. MD...

Davide Vigano, Sensoria

Davide Vigano
Sensoria

Sensoria is a leading developer of smart garments and IoMe (Internet of...

Pierre Wiertz, EDANA

Pierre Wiertz
EDANA

EDANA, the international association serving the nonwovens and related...

Daniel Kaye, RocketLife

Daniel Kaye
RocketLife

<div>RocketLife, an award-winning developer of breakthrough visual...

Vaanee Bhatia, Gritstones Clothing

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Amiben Shroff, Shrujan

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Mike Hoffman, Gildan Activewear SRL

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


May 2019

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

news category


Related Categories:

Advanced Search