In today’s world Garments and textile industry is the second largest employment
provider in the world.
In today’s world <a title="Garments and textile industry" href="https://growintel.blogspot.com/2019/01/5-fastest-growing-garments-exporters.html">Garments and textile industry</a>
is the second largest employment
provider in the world. According to global report, China is the largest textile
apparel producing and exporting nation in the globe contributing to 32.1% of total
production due to their unbeatable workforce. But there are some other fastest
growing garments exporters including Vietnam and Bangladesh waiting to
compete China in the international Market.
Vietnam: The fastest Growing Exporter in the World
Over the last decade, Vietnam has become the most successful and emerging
giant in garments manufacturing. The densely populated country’s garments
sector has experienced a speedy and sustainable growth in exporting garments
products in 180 countries. The garments and textile sector has seen a very speedy
rise from 7.87% to 11.50% in just two years and earns over $26 Billion in 2017.
Vietnam, In addition to the 61.79% of the workable population, belongs to the
age group of 15-54 years, making the median age 30.5 years is the biggest benefit
for the growing economy. Also, with 34.9% urbanization, 94.5% literacy (age 15
and over can read and write), and a stable political system, Vietnam is an
attractive investment destination.