Vietnam’s textile and garment products have been exported to 104 countries and territories this year – a record number, said Chairman of the Vietnam Textile and Apparel Association (VITAS) Vu Duc Giang.
As of the end of September, the organisation reports that with a turnover of more than US $ 11 billion, the US continued to be the largest importer of Vietnamese textile and apparel goods. With around US $ 3 billion, Japan, the EU, the Republic of Korea, US $ 2.43 billion, Canada, about US $ 850 million and China, US $ 830 million, came next.
Despite the substantial changes that businesses have seen, they have tried to diversify their export offerings by offering 36 different things. With over US $ 4.38 billion in revenue during that time, jackets continued to be the leading export earner, followed by trousers with over US $ 3.85 billion and shirts with US $ 1.87 billion.
As per VITAS, 2023 has presented noteworthy obstacles, including the COVID-19 pandemic’s residual effects on a worldwide scale and an abundance of inventory as a result of lower demand. Due to these challenges, the industry’s total export value, which exceeded US $ 44 billion last year, is predicted to drop by more than 9% this year to beyond US $ 40 billion.
Even if exports are down, this year’s difficulties notwithstanding, the turnover is regarded as a breakthrough and shows how hard the business community has worked.
Giang pointed out that the Vietnamese textile and apparel industry has achieved strides in terms of export markets and goods.
