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Vietnam’s textile: An emerging Market

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In the past few years, Vietnam’s textile industry has continuously grown until it has become the third largest clothing exporter in the world.

Due to the low labour cost and the input given by the State to specialise and modernise textiles companies, Vietnam’s textile is now showing remarkable results which are positive in order to diversify the supply chain, as well as, restore the national economy.

 

(Source: textiletoday)

According to the Vietnam’s Ministry of Industry and Trade, “the main export markets are the US, the EU, Korea, China and the Comprehensive and Progressive Agreement for TPP (CPTPP) – or TPP-11-countries.” The exports are continuously increasing, with a year on year growth of 10%.

 

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