From Fibre 2 Fashion
Vietnamese apparel store
Vietnam’s apparel exports to the US may reach US$ 8.5 billion in 2013, which would be a 10.4 percent growth over US$ 7.7 billion worth of exports made in 2012, the American Chamber of Commerce in Vietnam has said.
Vietnam’s exports of textiles and apparel account for about 36 percent of Vietnam’s total exports to the US, and the growth of Vietnam’s textile and apparel exports to the US is likely to increase steadily because of the slowdown of labour cost increases (minimum wage adjustment) for 2014 compared with previous years, and the increased FDI investments in textiles and apparel supporting industries in anticipation of the Trans-Pacific Partnership (TPP), AmCham, HCM City chapter, said on its website.
Vietnam’s 2014 Minimum Wage Adjustment showed “moderation,” with a 15 percent increase compared with a 17.5 percent increase in 2013, while inflation is projected just over 6 percent, AmCham said.
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