A recent report released by Vietnam Textile and Apparel Association has indicated that exports from Vietnamese garment and textile sector will grow by 11.5 per cent each year till 2020. As per the association, the sector is expected to generate revenue worth US $ 27.5 billion this year, increase the value to US $ 31 billion by 2016 and make it reach US $ 45-50 billion by 2020.
In the first nine months of 2015, Vietnam’s garment and textile export has reached the value of US $ 20 billion, marking an increase of 10 per cent compared to the corresponding period last year. Furthermore, the country has signed a number of pacts like Trans-Pacific Partnership (TPP) and Vietnam-European Union Free Trade Agreement. This global integration will facilitate Vietnamese garment and the textile sector, and help it grow at the estimated rate in the next five years.
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Dau tu (Vietnam Investment Review) cited data of the American Chamber of Commerce, forecasting that after taking into account the impact of TPP, Vietnam’s export to the United States is likely to reach US $ 51.4 billion, with garment and textile products alone touching US $ 15.2 billion mark by 2020.
Bharat Tex Special Report 2026 
