Vietnam’s garment-textile sector strives to achieve a total export value of 68-70 billion USD, according to the development strategy for the apparel and footwear industry to 2030, with a vision to 2035.
Indonesia’s textile and garment industry will expand its markets to meet the export target of 13-14 billion USD this year, according to the country’s Industry Minister Agus Gumiwang Kartasasmita.
Vietnam expects to earn 45.7 billion USD from garment-textile exports this year amid good results recorded since the beginning of this year and positive market developments.
Vietnam expects to earn 45.7 billion USD from garment-textile exports this year amid good results recorded since the beginning of this year and positive market developments.
Vietnam’s garment-textile exports hit 18.65 billion USD in the first half of 2022, posting a year-on-year surge of 21.6%, according to the General Statistics Office.
Vietnam’s garment-textile exports are likely to encounter a host of challenges in terms of both market and supply chain in the second half of this year despite positive results in the first half, heard a seminar in Ho Chi Minh City on June 21.
Although the demand for Vietnamese textiles is forecast to rise steadily in the short term, firms are concerned that tight material supply will impede their export plans.
Vietnam’s textile and garment exports to the United States in the first quarter of the year reached nearly US$4.36 billion, up 24..% year-on-year, the highest ever since 2012, according to data from the General Department of Vietnam Customs.
Container and warehouse shortages and surging container shipping costs have hit the textile and garment industry hard, insiders told a seminar in Ho Chi Minh City.
Export revenue of the garment and textile sector surged 21.2 percent year on year in the first five months of 2021 to about 15.2 billion USD, according to the Vietnam Textile and Apparel Association (VITAS).
The target of Vietnam earning 39 billion USD from garment and textile exports in 2021 is perfectly feasible, Vu Duc Giang, Chairman of the Vietnam Textile and Apparel Association (VITAS), has said.
Vietnam’s textile and garment exports is set to fall 15 percent to 34 billion USD this year, the first drop in 25 years, over Covid-19 impacts. With the Covid-19 situation remains serious in the U.S. and some European countries, exports to these markets will continue to face difficulties due to a shortage of orders, the Ministry of Industry and Trade said in a recent report.
Vietnam’s textiles enjoying preferential export tariff to the Eurasian Economic Union (EAEU) are likely to surpass the trigger level which results in the application of a safeguard measure cited in the Vietnam-EAEU Free Trade Agreement (VN-EAEU FTA), the Ministry of Industry and Trade (MoIT) has warned.
Cambodia earned 3.7 billion USD from the export of garment products, including clothes, footwear, and travel goods –in the first half of this year, down 5 percent compared to the same period last year, according to Cambodian news agency AKP.
Vietnam's garment and textile exports in the first four months fell 10 percent year-on-year to 10.63 billion USD and could fall much further as buyers cancelled orders due to COVID-19, according to the Vietnam Textile and Apparel Association (Vitas).
Foreign direct investment inflows into Vietnam’s textile and garment industry mounted to 19.5 billion USD over the last three decades with the Republic of Korea (RoK) being the top investor.
Vietnam’s textile industry faces many difficulties with both export and production on the decrease due to effects of an intensified China-US trade war, said industry experts.
The Vietnam Textile and Apparel Association (VITAS) said the total export value of textiles, fiber, and cloth reached 25.7 billion USD in the first eight months of the year, up 8.6 percent year on year, including 60.6 percent from foreign direct investment (FDI) enterprises.
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