Garment exports to hit US$20 billion by 2020

Garment exports are expected to increase by 15 percent in 2010 and even reach US$20 billion by 2020, said Le Quoc An, Chairman of the Vietnam National Textile and Garment Group.

Vietnam is in the top ten garment exporting countries Its industry employs nearly 2 million workers and last year’s total exports hit US$9 billion in revenue, said An at  a meeting with African cotton producers and exporters in Hanoi on May 8.

Some parts of the country are ideal for growing cotton, however, they can only supply 10 percent of the country’s total demand. Vietnam imported about 300,000 tonnes of cotton last year and 92,000 tonnes in the first quarter this year.

Out of the country’s major import markets including Africa, India and the US. Half of the total volume of imported cotton comes from Africa.

As the country’s demand for cotton is expected to rise by nearly 1 million tonnes a year, Vietnam is looking for good quality cotton from other markets.

vov

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