Garment and textile exports may hit US$30.5 billion in 2017, Vu Duc Giang, President of the Vietnam Textile Association (VITAS) said at the Cotton Day held by the association and the US Cotton Council International (CCI) in Ho Chi Minh City on September 12.
Vietnam’s garment and textile exports in the first half of this year reached US$12.6 billion, a year on year increase of 4.72% and accounted for 41% of the sector’s target for 2016.
(VOV) - China is by far the biggest source of clothing and textiles to the US, accounting for 37% of the US$80 billion per year industry.
If the Trans-Pacific Partnership (TPP) agreement is realised soon, Vietnam’s textile-garment exports to the US could hit around US$10 billion this year, with the number set to double by 2020.
Vietnam’s garment and textile exports have achieved an annual growth rate of 25-30 percent in recent years, earning US$15.6 billion in 2011.