Vietnam’s garment sector aims for $47-48b export target

Vietnam’s textile and garment sector has set an ambitious target of achieving an export turnover of $47-48 billion in 2025, said Vu Duc Giang, chairman of the Vietnam Textile and Apparel Association, on Tuesday.

The industry is projected to record a trade surplus of $19 billion this year, representing a 6.93 per cent increase compared to the previous year. It is estimated that exports will reach $44 billion, an 11.23 per cent year-on-year growth.

The United States, Japan, the European Union, South Korea, and China remain the key export markets for Vietnam’s textile and garment industry.

Meanwhile, the sector’s import turnover is expected to reach approximately $25 billion, a 14.79 per cent increase from the previous year.

Attribution: Xinhua

Subediting: Y.Yasser