Vietnam's apparel exports may hit $30.5 billion in 2017
Vietnam’s garment and textile exports may hit $30.5 billion in 2017, according to estimates by the Vietnam Textile Association (VITAS). In the first eight months of this year, exports in the sector witnessed a growth of 9.9 per cent year on year reaching $19.8 billion, VITAS president Vu Duc Giang said at the Cotton Day celebrations in Ho Chi Minh City.
However, Vietnam imports 60 per cent of its fibre, as cotton farms in Vietnam have shrunk significantly and meet only 0.04 per cent of the domestic textile sector’s demand, a news agency quoted Giang as saying at the September 12 event organised by VITAS along with the US Cotton Council International (CCI).
CCI’s Cotton Day events have been held in various countries in Asia including Japan, Republic of Korea, China, Taiwan, Thailand and Bangladesh. It was held in Vietnam for the first time.
The US is Vietnam’s leading market, accounting for 51 percent of market share. This is also the first year the CCI has supported Vietnamese brands using US cotton.
CANIFA and John Henry brands’ latest collections were shown at the event along with collections of the five contestants of the Cotton USA fashion design contest. (DS)
Fibre2Fashion News Desk – India