News Details

Vietnam's Q1 2022 textile-garment exports hit $8.68 bn, up 20.3% YoY

Vietnam

Textiles

24-05-2022

Prospects for the world’s textile and garment industry are expected to be brighter in 2022 and Vietnam continues to maintain its position as a leading textile and garment exporter in US and European Union (EU) markets, according to Vietnam’s Aurora Textile Industrial Park. In the first quarter (Q1) of 2022, the country’s export value of textiles and garments reached $8.68 billion, up by 20.3 per cent year on year, marking the highest increase in the past 10 years. Figures from the general department of customs showed that the United States continues to be the largest textile and garment import market from Vietnam with a value of $4.3 billion, followed by the EU with $896 million and Korea with $754 million. The positive signal of the market and the initial control of the COVID-19 pandemic will help Vietnam's textile and garment industry fulfill its set export target of over $43 billion by 2022, according to the Vietnam Textile and Apparel Association.

 

Besides, Vietnam will also have opportunities to catch up from the trend of shifting the world’s textile and garment supply out of China and Vietnam is one of the most potential and favorable destinations for manufacturers, import and export distributors, wholesalers and retailers worldwide, the Aurora Textile Industrial Park said in a press release. To maintain the leading position and tap up opportunities post COVID-19, textile enterprises are accelerating to upgrade technology in production chains as well as increase labour productivity. Located in the northern Nam Dinh province, the cradle of the Vietnam’s textile industry, Aurora is one of the very few industrial parks in Vietnam that meets the legal and utility infrastructure requirements qualified to accommodate fabric-dyeing establishments, the press release added.