Vietnam Plans To Export $15 Billion Worth Of Textile Products Next Year.

according to

The main reason for Vietnam's plan to reach the forefront of this year is the Vietnamese textile manufacturers carry out good forecasts of textile market information, strive to consolidate foreign markets for Vietnamese textile exports and enter new textile products.

Vietnam has been able to maintain the development of the textile market to the European Union, the United States and Japan. As at the end of October this year, Vietnam's exports to the European Union, the United States and Japan increased by 41%, 14% and 52% respectively over the same period last year, and Vietnam also handed out good pcripts for the newly developed textile market, such as Korea, Taiwan and Canada in the first 10 months of this year. Vietnam had exported 753 million dollars to South Korea for the period, up to 128% over the same period last year.

The Vietnam garment and Textile Association predicts that in the year of 2012, it will be able to export 15 billion US dollars, which is 10% to 12% higher than that of last year. The European Union, the United States and Japan still represent a major market for Vietnam's textile exports, accounting for 80% of the total export volume of textiles. However, the annual output of Nanming's textile products will have to face many impacts, such as Vietnam's macroeconomic development policy, the global economic recovery and the impact of evolving complex European bonds, especially because of the decline in raw materials of the global garment and textile industry, and the unit price of textile products will also decline, which will lead to Vietnam's export of textiles next year.

Vietnam's clothing and textile industry, in order to achieve the export of US $15 billion export, should reduce orders for foreign textile products (OEM) and strive to increase the proportion of FOB and ODM, so as to increase the economic value of textile products, continue to consolidate and develop the traditional market of Vietnamese textile exports, strengthen the development of Russian, Canadian and Korean textile markets, and also enhance the self-control rate of the industry, and use P.E fibers produced by domestic manufacturers to reduce import related raw materials (estimated to save 300 million US dollars per year for imports of raw and secondary materials), strengthen the use of domestic manufacturing machinery and equipment, reduce production costs, expand the area of cotton seed to 15 thousand hectares, and formulate a policy of treatment for absorbing labour.