Vietnam’s 5-month garment and footwear exports bring in US$15 billion

Vietnam’s combined clothes and footwear exports brought in over US$15 billion in the first five months of 2017, according to the General Department of Customs.

Vietnam’s 5-month garment and footwear exports bring in US$15 billion

The latest figures show that garment exports in May rose 2.9% from the previous month to US$1.93 billion, raising the sector’s total export value for the first five months of the year to US$9.39 billion, up 9.1% compared with the same period of 2016.

The major markets of Vietnamese garment products over the last five months were the United States, the European Union and Japan, whose respective import values were US$4.58 billion, US$1.3 billion and US$1.14 billion.

The sector has set a growth target of 6.5-7% this year, seeking to generate over US$30 billion, compared with US$23.8 billion in 2016.

During the same period, revenues from footwear exports increased 12% to US$5.65 billion, with the United States being the largest buyers at US$1.99 billion, followed by the EU and China, with US$1.8 billion and US$418 million respectively.

Last year, Vietnam’s footwear exports reached more than US$13 billion and the figure for this year is projected to rise by 10% to an estimated US$18 billion.

In the first five months of 2017, the combined revenues from clothes and footwear exports accounted for nearly one fifth of Vietnam’s total exports.