This year, Vietnamese garment exports are expected to hit $10 billion and reach $20 billion before 2020, as its current, garments exports accounts around 8-9 percent of market share in the US.
According to Le Tien Truong, deputy chairman of the Vietnam Textile and Apparel Association, Vietnamese garment exports to the US market in 2013 grew 14.2 percent to nearly touch US$8.6 billion though garment imports into this market merely rose 3.6 percent compared to the previous year.
In 2013, garments contributed more than one third to $25 billion exports of Vietnam to the US market.
In other markets, Vietnamese garment exports also saw optimistic growth. Although EU only grew 0.5 percent, South Korea increased 9 percent, and Japan declined 0.5 percent, Vietnamese garment exports to these markets were still at high levels.
Of the $19.8 billion garment exports in 2013, EU market accounted for nearly $2.7 billion, up 8.8 percent; Japan accounted for more than $2.4 billion, up 20 percent; and South Korea accounted for $1.87 billion, up nearly 44 percent.
Vietnamese textile and garment industry growing remarkably and sharing a good place in the US market
CARBIOS, a leader in biological technologies for textiles, celebrated the start of construction for the world's first PET biorecycling plant…
Research team at Vienna University is investigating the application of filters crafted from cellulosic waste to eliminate harmful dyes from…
The LYCRA Company has joined forces with Qore, a collaboration between Cargill and HELM, to make the world’s first large-scale…
Pakistani denim manufacturer Soorty has partnered with zero-waste designer Decode to create a modern and sustainable version of the jumpsuit…
Puma released its new Re: Suede 2.0 sneaker after a successful trial study which showed that the footwear could be…
A new supply chain rule, endorsed by the European Parliament, is set to enhance labor and environmental standards in the…