Vietnam’s New Strategy is to Become The World’s Top Five Apparel Exporters.
Vietnam’s target is 2015 or 2020, the world’s top five apparel exporters to join the ranks of the Vietnamese Trade Ministry of Industry under the new strategy.
Egytex News Desk
Source: www.biansky.com
The goal of the textile and clothing sector in 2010 was 12 billion U.S. dollars in export revenue in 2015 reached 18 billion U.S. dollars, in 2020 to 250 billion U.S. dollars.
At present, Vietnam is the world’s 10 largest apparel exporter, exports in 2008 reached 91 billion U.S. dollars. Vietnam’s Trade Ministry of Industry believes that if the Vietnamese are able to maintain current production and export growth, this goal can be achieved.
However, the Vietnam Textile and Apparel Association (Vitas) predicted that the U.S. financial crisis and recession in the world economy, Vietnam’s exports will decline.
The United States is Vietnam’s largest market, accounting for the total market share of Vietnam’s 55%, followed by the EU, accounting for 20%; Japan accounted for 10%.
Vietnam Textile and Apparel Association predicts this year’s export revenue to grow 5% to 92-95 million. Vietnam’s textiles and clothing are the main export sectors, after crude oil exports. Vietnam’s crude oil exports account for 15% of export earnings.
Source: www.biansky.com
From the Egytex news archive, first published on 14 June 2010. Figures and names are as reported at the time.
