Vietnam targets 44 billion USD in textile, apparel export turnover in 2024: VITAS
Vietnam Textile and Apparel Association (VITAS) has set a target of earning 44 billion USD from textile and apparel exports in 2024 as positive changes have seen from the last quarter of this year.
Hanoi (VNA) 𝓀– Vietnam Textile and ApparelAssociation (VITAS) has set a target of earning 44 billion USD from textile and apparel exports in 2024 as positive changes have seen from the last quarter of thisyear.
Speaking at a recent press conference, VITAS Chairman VuDuc Giang said that this year, the export revenue is estimated to top 40billion USD, about 9.2% less than that of last year. “Amid the gloomy landscape as a result of the global impact of the COVID-19 pandemic and large inventory due to falling demand, the achievement is considered a breakthroughdemonstrating great efforts of the business community,” Giang said, adding thatin 2023, Vietnamese textile and garment products entered 104 countries andterritories – a record number. According to VITAS, the US remained the biggest importerof Vietnamese textile and apparel products with a turnover of over 11 billion USD by theend of September. It was followed by Japan with about 3 billion USD, the Republic ofKorea 2.43 billion USD, and the EU 2.9 billion USD. Among key markets, Vietnam’s exports to the EUfailed to meet expectations with nine-month revenue dropping 13%. Vietnamese producers have been making efforts todiversify products for export with 36 types of products. Diversifying markets, products, customers, and partnersis a way for Vietnam's textile and garment industry to reduce its reliance onlarge markets, Giang said, adding it is also an important measure for Vietnam to realisenext year’s target. According to VITAS, the garment industry will continueimplementing measures for sustainable development with green production andgreenhouse gas emission reduction. Vietnam will need to focus on developing the fashionindustry, building domestic brands and then making them globally known, he said./.
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Illustrative photo (Photo: VNA) 
