Garment exports hit US$3.4 bln in Jan-Feb
(VOV) - Garment exports in the January-February period surged 18% to US$3.4 billion on-year, signalling a good sign for this year’s export target of US$28-28.4 billion, according to the Ministry of Industry and Trade (MoIT).
The US remained the largest export market for Vietnamese garment and textiles, accounting for 8.4% of the country’s market share.
This year’s exports to the highly lucrative market is forecast to explode 13% to US$11 billion over a year earlier.
Meanwhile, the EU continues to be a key market for Vietnamese garment and textiles in the time ahead after the EU-Vietnam Free Trade Agreement (EVFTA) comes into effect.
Accordingly, a tax cut of 12 to zero % on Vietnamese garment products will help Vietnamese firms sharpen their competitiveness.