According to newly released data from the General Statistics Office, in the first two months of 2025, textiles and garments were one of four product groups with export turnover of over 5 billion USD.
Specifically, in the first two months of 2025, the textile and garment industry reached 5.634 billion USD, up 9.3% over the same period. The export figures achieved by the industry in the first two months of the year are still within expectations, as many domestic textile and garment enterprises currently have orders until the second quarter of 2025. However, from the third quarter of 2025, there are signs of a slowdown because customers are still waiting to see the impact of US tax policies on the economy.
According to Mr. Hoang Manh Cam - Deputy Chief of Office of the Board of Directors of Vietnam Textile and Garment Group, the new US tariff measures have not targeted Vietnam and Vietnam is also the least vulnerable country in the ASEAN region in terms of reciprocal taxes; the textile and garment industry has not been subject to additional taxes.
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| In the first two months of 2025, textile and garment exports reached 5.634 billion USD, up 9.3% over the same period. Photo: Can Dung |
Historical data shows that Vietnam's textile and garment exports to the US are still growing well and still have the potential to increase market share in this country. Vietnamese textile and garment enterprises need to improve their compliance with the regulations on origin of the US anti-forced labor law for China.
Similarly, Mr. Pham Xuan Hong - Chairman of the Ho Chi Minh City Textile, Garment, Embroidery and Knitting Association - also acknowledged that the US tax policy has not had an immediate impact on the Vietnamese textile and garment industry. And the US is still the industry's largest export market.
Regarding the US market, the Vietnam Trade Office in the US recently provided information about the US trade representative's proposal to collect fees on ships manufactured in China.
According to the assessment of the trade office and some law consulting firms, the proposal of the US trade representative, if applied, will directly affect the logistics and operating costs of international shipping companies, including Vietnam.
This can also directly affect the price of export goods, especially textiles and garments, because the industry's main export markets are still distant markets such as the US and EU.
Source: https://congthuong.vn/xuat-khau-det-may-2-thang-dat-5634-ty-usd-377004.html
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