For the first quarter, Vietnam’s textile and garment exports are up 13.35 per cent compared to the same period of 2017. The worth of apparels shipped abroad rose 12.49 per cent year on year. Exports to key markets like the US, the EU, the Republic of Korea, China, Asean, and members of the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP) enjoyed strong growth.

In 2017, the industry gained year-on-year increase of 10.23 per cent in export revenue, higher than its target set at the beginning of the year. Textile and garment firms in Vietnam have received enough orders until the end of the second quarter of 2018. Some even have orders through the third quarter. Many companies have been working to diversify export markets. Apart from key markets like the US, the EU, Japan and the Republic of Korea, they are also stepping up exports to China, Russia and Cambodia.

In future Vietnamese companies will push ahead with trade promotion programs, specialised training, and experience sharing. They will also encourage the application of smart production models to help businesses boost sustainable development. Vietnam hopes the CPTPP will enable it to boost exports to major markets such as Japan, Australia, Canada and Mexico.