Garment and textile export turnover likely to hit USD27 billion in 2015

(CPV) - In spite of a lower growth rate in the first months of 2015 than the same period last year, garment and textile export turnover is expected to fulfill the year’s target of USD27-27.5 billion, reported the Vietnam National Textile and Garment Group (Vinatex).

According to Vinatex’s report on production and business situation in the first six months, garment and textile export turnover continued to grow double digits, at USD12.8 billion, a year-on-year rise of 10.26%.

The US was still the biggest export market, accounting for 42% of the country’s total garment and textile export turnover, valued at USD5.18 billion, up 11% over a year earlier.

Exports of the commodity to the EU reached an estimated USD1.45 billion, up 8.2% against the same period last year. The two markets of Japan and the Republic of Korea, Vietnam’s garment and textile export turnover was USD1.3 billion and USD948 million, respectively.

A representative from Vinatex said that the group earned over VND24.2 trillion in revenue in the first six months, a 9.6% increase year on year. And, its export turnover was estimated at USD1.7 billion during the period, up 10.7%./.