On the morning of November 19, 2024, at a press conference on the 25th anniversary of the establishment of the Vietnam Textile and Apparel Association (Vitas), Wu Dejiang, chairman of the Vietnam Textile and Apparel Association, said that in 2025, Vietnam's textile and garment industry will strive to achieve an export volume of 47 billion to 48 billion US dollars. Despite the complex and unpredictable international situation, Vietnam's textile and garment industry has maintained a good growth momentum.
In the wave of Global Economic Integration, the textile and garment industry, as an important part of the traditional manufacturing industry, is undergoing profound changes in its investment layout. Vietnam, with its unique geographical location, superior policy environment and growing economic situation, has emerged in the field of textiles and clothing.
In 2024, Vietnam's textile and garment exports are expected to reach 44 billion US dollars, an increase of 11.26%, and imports are expected to reach 25 billion US dollars, an increase of 14.79%; the trade surplus is expected to reach 19 billion US dollars, an increase of 6.93%.
In terms of export markets, the United States remains the largest market for Vietnamese textiles and clothing, with exports reaching US$16.71 billion, up 12.33%, accounting for 37.98% of total exports; Japan's exports reached US$4.57 billion, up 6.18%, accounting for 10.39%; the European Union reached US$4.3 billion, up 7.66%, accounting for 9.77%; South Korea is expected to be US$3.93 billion, up 10.36%, accounting for 8.93%; China is US$3.65 billion, up 1.76%, accounting for 8.3%; ASEAN is US$2.9 billion, up 4.84%, accounting for 6.59%.
Wu Duc Giang said that the above results mainly come from the textile and garment sector that has made good use of export orders transferred to Vietnam from China, Bangladesh and other countries. In the past period, global consumption did not grow; the growth was only due to order transfer, as Vietnam was selected as one of the countries for order transfer destinations at the end of 2024 and 2025.
At the same time, it is the export enterprises that meet the requirements and adaptability of the import market well. Specifically, in the first 10 months of this year, among the top 30 textile and garment exporters, 10 Vietnamese companies and 20 foreign direct investment (FDI) companies have adapted well to the requirements of the import market. Another factor that has a huge impact on the growth of Vietnam's textile and garment sector is the diversification of markets, customers and products. Currently, Vietnam exports to 104 markets in the world. In addition to traditional markets such as the United States, the European Union, China, Japan, the Comprehensive and Progressive Trans-Pacific Partnership Agreement (CPTPP) countries and ASEAN countries, Vietnamese textiles and garments are also exported to African and Middle Eastern markets. Most companies in the textile and garment sector have orders for the first quarter of next year and are negotiating for the second quarter.
According to the development strategy of the textile, clothing and leather industry, by 2030, Vietnam will gradually shift from rapid growth to sustainable development. Between 2031 and 2035, Vietnam will implement sustainable development based on the circular economy model, improve the domestic value chain, and participate in the high value-added links in the global supply chain.
Currently, Vietnam has become the world's third largest textile and clothing exporter, second only to China and Bangladesh.
In 2024, Vietnam will achieve a trade surplus of US$19 billion, 108.6 times the US$175 million in 1999. The textile and garment industry has more than 3 million employees, providing employment opportunities for the labor force, promoting social security and stability, increasing fiscal revenue, and promoting the transformation of the economic structure.
Source: The copyright belongs to the original author or institution. If there is any copyright issue, please leave a message and contact us, we will correct or delete it as soon as possible.
QR CODE
