Apparel export targeted at $20b by 2020

Vietnam is amongst the world’s top ten biggest apparel exporters with about two million workers and 2009′s export turnover at over $9 billion, ranking the first among Vietnam’s export items, said Le Quoc An, chair of Vietnam Textile and Apparel Association (Vitas).

Till the end of 2010, the country’s apparel export turnover is expected to grow 15 percent and reach some $20 billion by 2020.
According to An, Vietnam textile industry still depends much on imported raw materials whereas the domestic materials meet only 10 percent of home demands. From the beginning of this year up to now, enterprises have operated in harsh conditions due to the world cotton price rose sharply by 50 percent against the same period of last year.

In 2009, Vietnam had to import about 300,000 tonnes of cotton and in Q1 this year the figure was 92,000 tonnes, up 262 percent year-on-year mainly from the US, India and Africa.

An forecasted that in coming 10 years, the demand for cotton will increase by about one million tonne a year, therefore we need to seek cotton growing area in the country to meet the target of textile and garment domestication.

VOV

Tags: Vietnam Apparel, Vietnam Apparel Exports

Posted by VBN on May 11 2010. Filed under Garment Textile, Import-Export. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry