Garment and textile exports target set at US$ 34 billion in 2018

According to Vice chairman of Vietnam Textile and Apparel Association (Vitas) Truong Van Can, the industry has faced a number of challenges in 2017, which were partly posed by the delay in the ratification of the Trans-Pacific Partnership (TPP).

However, since the second quarter of this year, the industry has strived to overcome these difficulties and to approach the export target of US$31 billion set for this year, an increase of 20.23% against the same period last year.

Of which, the export turnovers of textile and garment products reaped in US$25.91 billion, up 8.7% annually, while the export of fibres is estimated at US$ 3.51 billion, an increase of 19.93% compared to the same period last year.

The export turnover of the sector in the last two months of this year is predicted to stand at US$ 5.27 billion.

In addition to major export markets, such as the US, the EU, Japan and the Republic of Korea, the sector also enjoyed fruitful export growth in other markets, including China, Russia and Cambodia.