Vietnam'S Textile And Garment Exports In 2019 Failed To Reach The Target Of The Beginning Of The Year.

Vietnam's textile and Garment Association (VITAS) chairman, December 3rd, in Vietnam's textile and clothing export news conference in 2019, said Vietnam's textile and garment industry increased by nearly 7.55% over the same period this year. The annual export volume is expected to reach US $39 billion, but it failed to reach the target of US $40 billion at the beginning of this year and a year-on-year increase of 10.8%.

According to the Vietnamese people's daily news December 4th, Wu De Jiang said that Vietnam's textile and clothing imports reached 22 billion 380 million US dollars in 2019, an increase of 2.21% over the same period last year, and imports of raw materials amounted to US $19 billion 260 million, an increase of 4.96% over the same period last year. The domestic added value of textiles and clothing reached US $19 billion 730 million, an increase of 10.19%. The trade surplus of US $16 billion 620 million increased by 2 billion 250 million US dollars, an increase of 15.7 percentage points over the same period last year.

In Vietnam's textile and garment export market, the United States is still the largest export market for Vietnamese textile and clothing products, and Vietnam's exports to the market amounted to 15 billion 200 million US dollars, up 8.9% from the previous year, accounting for 38.97% of total exports; exports to the EU amounted to US $4 billion 400 million, an increase of 2.23%, accounting for 11.28%; exports to China amounted to 4 billion 250 million US dollars, an increase of 7.05%, accounting for 10.9%; exports to Japan amounted to 4 billion 200 million dollars, an increase of 4.79%, accounting for 4.79%;

According to observer net, in recent years, due to the low cost of labor in Vietnam, the textile and garment industry is accelerating the relocation of its production base from Vietnam to Vietnam. Vietnam's textile and garment industry exports amounted to about 36000000000 US dollars in 2018, with a growth rate of 16.01%, becoming the third largest exporter of textiles and clothing in the world, second only to China and India. This figure was 12.1%, 4.07% and 10.2% in 2015, 2016 and 2017 respectively. Therefore, in February this year, VITAS set the target of Vietnam's export volume to reach US $40 billion and increase by 10.8% over the same period in 2019.

In addition, according to the development goal of Vietnam's textile and garment industry proposed by VITAS in the next 10 years, as of 2030, Vietnam's textile and garment export volume should reach 850-900 billion US dollars, and 25-30 Vietnamese brands will be built and developed.