Apparel exports of Vietnam likely to touch USD30.5 bn in 2017

Vietnam’s garment and textile in the first eight months of 2017, enjoyed growth of 9.9 percent year on year to USD 19.8 billion in exports based on the current performance it is predicted to touch USD 30.5 billion in 2017, said Vu Duc Giang, President of the Vietnam Textile Association (VITAS) at the Cotton Day held in Ho Chi Minh City yesterday.

The US remains Vietnam’s leading market, accounting for 51 percent of market share. However, Vietnam imports 60 percent of its fibre, as cotton farms in Vietnam have shrunk significantly and meet only 0.04 percent of the domestic textile sector’s demand, said Giang.

He asserted that Cotton Day, is a chance for the US cotton sector to evaluate the potential of the Vietnamese market and to propose the US Government support the Vietnamese garment and textile sector.

William Bettendorf, CCI Director General, said Vietnam was chosen as the host of Cotton Day due to the market’s growth in recent years, adding that the country is the US cotton sector’s largest customer.

During the event, the CANIFA and John Henry brands’ latest collections were shown, along with the collections of the five contestants of the Cotton USA Fashion Design Contest.

This is the first year the CCI has supported Vietnamese brands using US cotton, the Cotton USA label will aid Vietnamese products in the US market.