Vietnamís garment and textile sector
witnesses growth in Jan-Apr 2019
textile sector earns US $ 9.4 billion in the first 4 months
This is a 9.8 per cent jump
In April, industry earns an
impressive US $ 2.3 billion
Vietnam has, reportedly, raked in more than US $ 9.4 billion by
exporting apparels and textiles during the period from January
to April 2019.
While confirming this, the Ministry of Industry and Trade said
that the amount earned is a 9.8 per cent increase year-on-year.
In fact, in April alone, the countryís garment and textile
sector generated US $ 2.3 billion from exports, which is a jump
of 7.1 per cent.
The increase hasnít come as a surprise as several garment
companies were booked for the first 6 months of 2019, with some
of them being booked till December 2019. Many industry experts,
therefore, predict that the industry will surpass its projected
apparel and textile export target of US $ 40 billion much before
the year ends.
In 2018 too, the garment and textile export target was revised
to US $ 35 billion in the middle of the year; however, the
country went on to achieve an impressive US $ 36 billion by the
end of 2018.
However, one area where Vietnam still struggles is with its
inability to satisfy the export market with the quality of its
local cloth, which is below average.