Pessimistic attitude towards domestic market, Vietnamese garment manufacturers focus on export
Vietnam’s garment manufacturers mainly focus on exports. The main focus of Vietnamese garment production units is on exports, and they do not pay the same attention to the domestic market, according to media reports.
Only about 19% of Vietnam’s clothing manufacturers are planning to expand, and only in large cities. Only about 30% of total production capacity is allocated to domestic consumption, according to Vietnam Textile and Apparel Group (Vinatex). On the other hand, Vietnam’s textile and clothing exports rose 5.8% year-on-year to US$2 billion in January 2016. With the implementation of TPP, exports will become more profitable for garment exporters because of zero tariffs.
Vietnam’s garment industry has set an export target of US$30 billion in 2016, an increase of 10% from last year. Many export companies have secured enough orders for the year to achieve their export targets.
Although the domestic market is growing at 10%-15% annually, apparel manufacturers are still pessimistic about the domestic apparel market. Pessimistic attitude towards domestic market, Vietnamese garment manufacturers focus on export
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