Vietnam’s garment and textile industry earned US $ 2.7 billion from exports in January 2019, which is a substantial year-on-year increase of 6.7 per cent.
This was announced recently by the Vietnam Textile and Apparel Association (VITAS).
It is imperative to note that Vietnam’s turnovers of apparels and textiles, which includes jackets, T-shirts and fabrics, to China increased by 23.9 per cent. The country’s apparel and textile turnovers to Japan too witnessed a surge of 7.6 per cent.
Vietnam, which is one among the five biggest garment and textile exporters in the world, registered a garment and textile export turnover of US $ 36 billion in 2018 – a significant increase of 16 per cent from what it was in 2017.
This was also the highest increase in last three years.
Reportedly, the country had to spend more than US $ 12.9 billion in importing apparels in 2018, which is a significant jump by 13.5 per cent.