News Flash

Vietnam aims at raising export turnover by 6% in 2024

29 Dec '23

1 min read

Pic: Adobe Stock

Insights

Vietnam aims to raise its 2024 export turnover by 6 per cent compared to the 2023 figure and maintain a trade surplus of $15 billion for the ninth consecutive year.
It, however, expects difficulties and challenges as the 2023 export value target is not yet complete.
The export value this year is estimated to be about $355 billion, down 4.5 per cent YoY.

Vietnam aims to raise its total export turnover next year by about 6 per cent compared to this year’s figure and maintain a trade surplus of about $15 billion for the ninth consecutive year.

The country’s ministry of industry and trade (MoIT), however, expects several difficulties and challenges in achieving this target as the export value target for this year is not yet complete.

The export value this year is estimated to reach about $355 billion, down 4.5 per cent year on year (YoY).

The Vietnam Textile and Apparel Association (VITAS) said with the export turnover reaching $40.3 billion this year, the industry has set an export target of $44 billion next year, an increase of 9.2 per cent YoY.

VITAS will promote solutions on market, human resources, science and technology and raise capital, and investment in sustainable development.

The textile and garment industry will also continue to diversify its supply of raw materials and accessories as well as expand export markets, by improving marketing capacity and seeking for direct customers, according to a news report from Vietnam.

Fibre2Fashion News Desk (DS)

More Vietnam Textile and Garment Association (VITAS) News... More Textiles News - Vietnam...