Vietnam exports over 16 billion USD worth of textiles and garments to the US

ANTD.VN - In 2024, textile and garment export turnover will reach nearly 37.04 billion USD, an increase of 11.2% compared to 2023, in which the US market ranks first in terms of turnover.

Textile and garment exports grow positively again

According to the Center for Industry and Trade Information ( Ministry of Industry and Trade ), in 2024, the turnover will reach nearly 37.04 billion USD, an increase of 11.2% compared to 2023.

Vietnam's textile and garment exports to the US always rank first in terms of turnover, reaching over 16.15 billion USD, accounting for 43.6% of the country's total textile and garment export turnover, up 11.7% compared to 2023; In December 2024 alone, it reached 1.54 billion USD, up 17.4% compared to November 2024 and up 18% compared to December 2023.

Exports to Japan ranked second in terms of turnover, reaching 4.33 billion USD, accounting for 11.7%, up 6.8%. Next was the EU market, reaching over 4.24 billion USD, accounting for 11.5%, up 12.7.

The Korean market reached 3.15 billion USD, accounting for 8.5%, up 3.5% and to China reached 1.33 billion USD, accounting for 3.6%, up 18.5% compared to 2023. Textile and garment exports to the Southeast Asian market accounted for 5.7%, reaching nearly 2.1 billion USD, up 18.5% compared to 2023.

In general, textile and garment exports to most markets in 2024 will increase in turnover compared to 2023.

One of the reasons that helped Vietnam's textile industry achieve the above results is that businesses have received a flow of orders shifting from Bangladesh.

According to Mr. Vu Duc Giang - Chairman of Vietnam Textile and Apparel Association, orders from Bangladesh are basic orders, large quantity but low price. Therefore, not all enterprises can receive the order flow, especially enterprises producing high-end and fashion products such as Hoa Tho, May 10.

Forecasting the textile and garment export market in 2025, experts said that the growth momentum in 2024 will continue. Some signs of better growth are seen when the industry's main import markets such as the US and EU have a more positive economic recovery. People's income and consumer spending will also improve after the interest rate cut roadmap continues.

However, there are still many risks, which are difficult to predict due to new political factors from major importers and increased competition.

It is forecasted that from the second half of the year onwards, importers will not close long orders but orders will be shorter and smaller.

In particular, orders shifting from Bangladesh will gradually decrease, currently the country's exports have gradually stabilized.

Source: https://www.anninhthudo.vn/viet-nam-xuat-khau-hon-16-ty-usd-hang-det-may-sang-my-post602666.antd