Garment & textile exports may touch US$ 23.6 bln

15:47 | 01/10/2014

VGP – Shipment of garments and textiles topped US$ 13.61 billion in the first eight months of 2014 and is likely to attain US$ 23.6 billion for the whole year.

Illustration photo

In the January-August period, a large number of markets witnessed sharp increases in garment export at over 45%.

The US was the largest importer of made-in-Viet Nam products with US$ 6.5 billion in turnover, accounting for 47.75% of the total; followed by Japan with US$ 1.68 billion (12.3%) and the RoK with US$ 1.22 billion (8.94%).

Experts predicted that Viet Nam would earn US$ 23.6 billion in export revenue from shipping garments and textiles in 2014.

The figure is feasible thanks to numerous advantages in terms of market.

Vietnamese products have set foothold in the US and Japanese markets.

Meanwhile, there are big demands for Vietnamese garment and textile exports in the EU. In addition, Viet Nam and the EU are likely to finalize and sign a free trade agreement (FTA) by the end of this year. The document is expected to benefit Vietnamese enterprises in terms of tax./.

By Kim Anh