Garment exports to hit US$25 bln for 2014
(VOV) - Garment and textile exports are forecast to exceed the yearly plan by 16% and peak at US$25 billion for 2014, according to the Vietnam National Textile and Garment Group (VINATEX).
In the first nine months of 2014, garment exports were US$17.2 billion, up 19% over the corresponding period last year.
Many traditional markets remained on a high growth trend, such as the US (15%), the EU (19%), Japan (14%) and the Republic of Korea (32%).
India has now replaced China to become the largest cotton supplier for Vietnam, behind the US.
In the first nine months, Vietnam imported 550,000 tonnes of cotton valued at US$1.1 billion from foreign countries (including US$500 million from the US and US$300 million from India).