Textile and garment exports accelerate.

Over the past nine months, Vietnam's textile and garment exports increased by 8.9% compared to the same period last year.

Vietnam is the only one of the world's four largest textile and garment exporting countries to have seen market share growth in various markets. This provides a foundation for the textile and garment industry to strive for an export target of $44 billion this year. This is the assessment of the Ministry of Industry and Trade regarding textile and garment exports over the past nine months.

Accordingly, the US market increased from 17.6% to 18.3%; although Europe's textile and garment imports decreased by about 5.5%, Vietnam's textile and garment products still maintained a market share of approximately 4.4%. The situation is expected to continue improving in the remaining months of the year and the beginning of next year, thanks to cyclical factors and abundant orders. In the past nine months, Vietnam's textile and garment export turnover increased by 8.9% compared to the same period last year.

Forecasts indicate that Vietnam's textile and garment exports and imports will continue to be positive in the coming months, as demand typically surges in the final months of the year due to cyclical factors. Vietnam's key export markets are recovering and experiencing renewed growth, including the United States, South Korea, Japan, and Canada… while growth in the EU market remains low.

According to the Vietnam Textile and Garment Association, the textile and garment industry aims for a total export turnover of US$44 billion in 2024, a 9% increase compared to 2023. With cumulative exports exceeding US$28 billion in the first eight months, the average monthly export turnover needs to reach US$4 billion by the end of 2024. However, the second half of the year is also a peak period for orders and production for Christmas and New Year, therefore, with the growth momentum in the first two consecutive months, the industry has a relatively high chance of achieving its target.

According to PV/VTV

Source: https://doanhnghiepvn.vn/kinh-te/xuat-khau-det-may-tang-toc/20241030023557867