According to statistics from the General Department of Customs, Vietnam's total textile and garment export turnover to markets around the world in the first 6 months of 2024 reached over 16.52 billion USD, an increase of 5.04% compared to the first 6 months of 2023. Of which, exports to the EU accounted for 11.54% of the total turnover, reaching nearly 1.91 billion USD, an increase of 1.63%.
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| In the first 6 months of 2024, exports to the EU accounted for 11.54% of the total textile and garment export turnover, reaching nearly 1.91 billion USD, an increase of 1.63%. (Source: Industry and Trade Newspaper) |
Exports to the EU, one of the major consumer markets alongside the US, Japan, and South Korea, are recovering, but the recovery is only slight. Last year, Vietnam's textile and garment exports to the EU were heavily affected by the global economic and trade downturn, reaching only 3.843 billion USD, down 14.1% compared to 2022.
In the first half of 2024, Vietnam's textile and garment exports to the Netherlands, Vietnam's largest textile and garment consumer market in this bloc, recorded the strongest recovery, bringing in approximately 565.29 million USD, up 19.97% over the same period, accounting for 29.65% of total export turnover to the EU.
Notably, in the first 6 months of 2024, although the export turnover of textiles and garments to the Czech Republic was not high, reaching only nearly 14.52 million USD, it increased sharply by 48.98% compared to the same period in 2023. In addition, exports to Slovakia also increased sharply by 55.32%, reaching over 2.39 million USD; exports to Luxembourg increased by 24.76%, reaching over 1.74 million USD.
On the contrary, textile and garment exports decreased sharply in markets such as: Austria decreased by 32.37%, reaching nearly 4.17 million USD; Hungary decreased by 31.21%, reaching over 0.57 million USD.
Germany is one of the markets that has not yet recovered, and even continued to decline compared to last year. Specifically, in the past 6 months, textile and garment exports to Germany only reached 363.65 million USD, down 18.26% compared to the same period.
Last year, textile and garment exports to Germany decreased sharply, reaching only 840 million USD, down nearly 22% compared to 2022.
Thus, in the first half of 2024, there are 6 markets in the EU bloc with a turnover of over 100 million USD. Including: Spain reaching nearly 252.35 million USD, Belgium reaching nearly 206.17 million USD, up 6.75%, France reaching 206.01 million USD, up 3.3%, Italy reaching nearly 159.29 million USD, up 1.63%, Germany 363.65 million USD..
It is forecasted that textile and garment exports to the EU in the second half of 2024 will recover more clearly during the holiday season (Christmas, New Year).
However, some businesses in the industry are also cautious, because inflation in the EU has decreased slightly in recent months, but consumers still tend to be cautious in spending, including on textiles. Therefore, the recovery is possible, but it is difficult to hope for double-digit growth.
Source: https://baoquocte.vn/xuat-khau-det-may-sang-mot-thi-truong-rat-lon-hoi-phuc-nhe-6-thang-thu-ve-gan-19-ty-usd-279527.html
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