Textile and garment exports accelerate

In the past 9 months, Vietnam's textile and garment export turnover increased by 8.9% over the same period last year.

Vietnam is the only country among the four largest textile and garment exporting countries in the world with growing market share in all markets. This is the basis for the textile and garment industry to strive for the export target of 44 billion USD this year. This is the assessment of the Ministry of Industry and Trade on textile and garment exports in the past 9 months.

Accordingly, the US market increased from 17.6% to 18.3%; although European textile and garment imports decreased by about 5.5%, Vietnam's textile and garment products still maintained their market share in this market at about 4.4%. The situation will continue to improve in the last months of the year and early next year, thanks to cyclical factors and abundant orders. In the past 9 months, Vietnam's textile and garment export turnover increased by 8.9% compared to the same period last year.

It is forecasted that Vietnam’s textile and garment import and export will continue to be positive in the coming months, because according to cyclical factors, demand for goods often increases sharply in the last months of the year. Vietnam’s main export markets are warming up and have grown again, such as the United States, South Korea, Japan, Canada, etc. However, the EU market’s growth rate is still low.

According to the Vietnam Textile and Apparel Association, in 2024, the textile and garment industry aims to achieve a total textile and garment export turnover of 44 billion USD, an increase of 9% compared to 2023. With an accumulated 8-month turnover of over 28 billion USD, on average from now until the end of 2024, each month needs to reach an average turnover of 4 billion USD. However, the second half of the year is also the peak for orders and production during Christmas and New Year, so with the growth momentum in 2 consecutive months, the industry's chances of reaching the finish line are relatively high.

According to PV/VTV

Source: https://doanhnghiepvn.vn/kinh-te/xuat-khau-det-may-tang-toc/20241030023557867