Vietnam will play a more important role in the garment industry
- Author:Rachel Xiao Shan
- Release on:2016-04-13
Vietnam's garments and textile sector has set a target to earn 28.5 billion U.S. dollars from export in 2015, 4 billion dollars more than last year, according to the Vietnam Textile and Apparel Association. In 2014, the country earned 24.5 billion U.S. dollars from export of garments and textiles, posting a 19 percent year-on-year rise, local Vietnam News reported on Thursday.
Of the total value, garment and textile exports to the United States hit 9.8 billion dollars, to Japan with 2.7 billion dollars, and to South Korea with 2 billion dollars.Meanwhile, the imported materials for garments and textiles production stood at 15.8 billion dollars, posting a 16 percent year-on-year increase.The imported materials mainly included cotton, fiber and fabrics.Of these, cotton imports were 743,000 tons, up 28 percent over a year earlier, with a total value of 1.4 billion dollars.Fiber imports amounted to 1.6 billion dollars for 745,000 tons, up 7 percent and 3 percent year on year in terms of value and quantity, respectively, while fabrics imports cost 9.5 billion dollars.Vietnam will play a more important role in the garment industry.