Textile Industry to Earn US$20 Billion Early
If the export growth of Viet Nam’s textile and garment industry remains between 12 and 15 percent, the sector will reach its target of US$20 billion in 2014 ahead of the 2015 deadline, according to the Viet Nam Textile and Apparel Association (VITAS).
VITAS Vice Chairman Le Tien Truong said that despite a 5-10 percent decrease in export prices in 2012, total exports still rose by 15 percent.
The industry’s trade surplus was US$8.4 billion last year as imported materials accounted for only US$8.8 billion of the total export value of US$17.2 billion, he added.
The textile and garment industry has already achieved its 2015 goal to source 50 percent of raw materials domestically.
It expects to earn US$18.8-19.3 billion this year.
VGP
Vietnamese
