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Home News Textile industry to earn 20 billion USD early

Textile industry to earn 20 billion USD early

alt If the export growth of Vietnam’s textile and garment industry remains between 12 and 15 percent, the sector will reach its target of 20 billion USD in 2014 ahead of the 2015 deadline, according to the Vietnam 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 8.4 billion USD last year as imported materials accounted for only 8.8 billion USD of the total export value of 17.2 billion USD, 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 18.8-19.3 billion USD this year.-VNA

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