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Vietnam apparel exports up 18 per cent

Vietnam earned $3.4 billion from apparel exports in the first two months of 2015, up nearly 18 per cent against the same period last year. The sector had a goal of achieving an export turnover of $28 billion in 2015, up 16 per cent compared to the previous year.

The US, Japan and the Republic of Korea are the three largest importers of Vietnam’s garments. Apparel exports to the US are expected to reach $11 billion this year, a growth rate of 13 per cent. When the EU-Vietnam free trade agreement is signed, tariff reduction, from 12 per cent to 0 per cent, will facilitate Vietnam’s apparel exports to the European Union.