Vietnam Is Preparing To Become The World'S Five Largest Exporter Of Clothing.

The goal of Vietnam is to join the ranks of the world's five largest garment exporters in 2015 or 2020, according to the new strategy of the Vietnam Trade and Industry Department.

The goal of the textile and clothing sector was $12 billion in export earnings in 2010, reaching $18 billion in 2015 and $25 billion in 2020.

At present, Vietnam is the world's top 10 garment exporters, and its exports amounted to US $9 billion 100 million in 2008.

Vietnam's Ministry of trade and industry believes that if Vietnam can maintain its current production and export growth, this goal can be achieved.

However, Vietnam's textile and clothing association (Vitas) predicts that Vietnam's exports will decline as a result of the financial crisis in the United States and the recession of the world economy.

The United States is Vietnam's largest market, accounting for 55% of Vietnam's total market share, followed by the European Union, accounting for 20%, and Japan accounted for 10%.

The Vietnam textile and clothing association predicts that this year's export revenue will increase by 5% to 92-95 billion US dollars.

Textiles and clothing are Vietnam's main export sectors, second only to crude oil exports.

Crude oil exports account for 15% of Vietnam's exports.