Garment and textile exports to reach US$19 billion

(VOV) - The garment and textile sector’s export turnover is expected to hit more than US$19 billion this year thanks to an increase in orders and export revenue.

The Ministry of Industry and Trade (MoIT) said that it already reached US$14.8 billion by October, up 18.7% from a year earlier.

In the 10-month period, Vietnam’s garment and textile exports to China were estimated at over US$270 million and its furnishing fabrics at nearly US$700 million.

Meanwhile, its cotton imports from China were worth nearly US$7.5 million.  

The country’s garment and textile exports also rose sharply to foreign countries including the US (up 37%), the Republic of Korea (up 68%), and Japan (up 35%).

The MoIT said that some garment and textile businesses have built a roadmap and specific plans for production, aimed at improving the quality of weaving, dyeing, and designing in preparation for their Trans-Pacific Partnership (TPP) in the near future.