Looking Forward To The New Export Target Of Vietnam Garment Industry In 2018

World clothing shoes and hats, it is understood that Vietnam's national clothing and

Le Tien Truong, general manager of Vinatex, said that despite the difficulties faced by domestic and foreign markets, Vietnam's textile and clothing industry increased its export value in 2018 to 10% compared to the same period last year, reaching 34 billion US dollars.

He recently reported on Vinatex's performance at a conference in Hanoi.

According to the Vinatex report, its total revenue in 2017 was 45 trillion and 555 billion Dong Dong (2 billion 20 million US dollars), of which Vietnam's domestic sales contributed 10 trillion and 390 billion Dong Dong, accounting for 22.8% of total revenue.

The group disclosed that the pre tax profit amounted to 1 trillion and 430 billion Dong Dong in 2017.

According to a Vietnam News Agency, the group has set the target for 2018 to be 48 trillion and 500 billion Vietnamese shield's revenue and 1 trillion and 450 billion Vietnamese shield's pre tax profit.

Because of Vietnam

The industry will face more competition this year, and Truong urges the industry to continue investing in technology to create stable and sustainable production efficiency.

Last year, Vietnam exported $31 billion worth of textiles and clothing, which was higher than its target of $30 billion.

Truong said that the major markets such as the US, EU, Japan and South Korea have maintained good growth, while exports in other markets such as China, Russia and Kampuchea have also made breakthroughs.

For example, the Korean market jumped to fourth in 2017, close to the Japanese market, with an export value of $2 billion 700 million.

Last year, exports to China amounted to US $3 billion 200 million, the same amount as that exported to Japan.

Vietnam leather footwear exports increased 10% in 2017

Reported in January 4th, according to Vietnam leather shoes Association Association data, in 2017, Vietnam leather shoes export overfulfilled the task, amounting to $17 billion, an increase of 10% over the same period last year.

The United States is the largest export market for leather footwear in Vietnam, accounting for 34% of total exports, followed by the European Union, accounting for 30%, and other countries such as Korea, Japan and China.

The association said that the Vietnam - EU FTA or will be signed in mid 2018, the American Manufacturers Association is promoting the adoption of regulations on tariff reduction, if the entry into force of the Ordinance will reduce tariffs on some products entering the US market, it is expected that Vietnam leather shoes exports will grow longer in 2018.

Vietnamese textile industry achieved a trade surplus of US $15 billion 500 million in 2017.

Media reports in December 22nd: Vietnam's textile exports have regained two digit growth this year after experiencing a brief slowdown in 2016, and the total export volume will reach 31 billion US dollars this year.

Among them, garments and garments export 25 billion 910 million US dollars, yarn exports 3 billion 510 million US dollars, cloth exports 472 million US dollars, raw and excipients export US $1 billion 100 million.

The total import value of raw materials and accessories in the textile industry was 18 billion 910 million US dollars, excluding the original raw materials for the mainland market, the actual textile trade surplus reached US $15 billion 500 million, a record high.

The largest market for textile exports is still the United States, accounting for 48.3% of the total export share, followed by the European Union, Japan and South Korea.

Vietnam's textile exports expanded in 2017, and local enterprises accelerated their pformation.

In early 2017, Vietnam's textile and garment industry faced a series of challenges, but the situation began to improve gradually in the second quarter.

It is estimated that Vietnam's total foreign trade volume will be USD 31 billion in 2017, of which $25 billion 910 million for textiles and clothing.

Vietnamese official said Vietnam Textile this year

It is expected to grow by 10% over the same period. In 2018, it will maintain a high growth momentum and export volume is expected to reach 335-340 billion US dollars.

In addition to stabilizing the traditional markets such as the United States, the European Union, Japan and South Korea, Vietnam's local enterprises have also developed new export markets such as China, Russia and Kampuchea.

The production of local enterprises has begun to shift from processing exports to foreign companies to direct export and origin design and manufacture.

It is understood that many Vietnamese textile and garment companies have signed the export list for the first half of next year, and buyers are very confident about the quality and delivery ability of Vietnamese companies.

Vietnam textile and Apparel Association recommends that domestic enterprises change their production strategies to meet export demand and competitiveness, and invest in new technologies to diversify products and establish communication systems among enterprises.

At present, China, Bangladesh, Sri Lanka, Burma and Kampuchea have formed price competition for Vietnam. Vietnam's local enterprises must ensure product supply and high skilled workers, increase investment in new technology, and speed up the process of automation.

According to VISTA analysis, Vietnamese local enterprises must produce 86% of the cloth as soon as possible. The cloth produced in China can not meet the requirements of foreign buyers, and there are various taxes and fees, while the export of imported cloth is tax-free.

In addition, the labor cost of Vietnam's textile and garment industry has been rising and all costs have been added together, and the total cost has reached 2.5 times that of other regions.

The government needs to adjust its policies in terms of income, insurance, administration and supervision.

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