Spread from key export industries
The textile and garment market context in the first half of 2025 is very specific, with fierce competitive pressure and trade tensions between economic powers having a significant impact on exports. Vietnam's textile and garment industry. In particular, the development of tax policies from the US has put clear pressure on unit prices and orders at most businesses. However, the growth and profits of Vietnam's textile and garment industry during this time are still quite good.
Mr. Le Tien Truong, Chairman of the Board of Directors of Vietnam National Textile and Garment Group (Vinatex), explained that in early April, right after US President Donald Trump announced a 46% reciprocal tax on Vietnamese export goods, customers immediately announced that they would stop placing orders; only after the US postponed the reciprocal tax for 90 days (April 9) did orders resume. Taking advantage of this time, businesses in the Group must find ways to increase production progress and meet orders as soon as possible after reaching an agreement to increase costs more reasonably, using the number of orders to compensate for the unit price, thereby creating efficiency. Vinatex's profit growth in the first 6 months of 2025 far exceeded revenue growth, with consolidated profit of nearly VND 556 billion, equal to 61% of the yearly plan and up 97% over the same period, contributing to the textile and garment industry's turnover reaching nearly 22 billion USD, an increase of 2.3 billion USD (equivalent to 10%) over the same period in 2024.
Not only textiles and garments, in the first 6 months of the year, there were 28 items with a turnover of over 1 billion USD, accounting for 91.7% of total export turnover and having a strong growth rate. Specifically, the export turnover of some processed and assembled items increased significantly compared to the same period last year, such as: Computer electronics and components increased by 40%; textiles and garments increased by 12.3%; machinery, equipment, tools and spare parts increased by 15.4%... On the other hand, in the first half of the year, new groups of products with breakthrough growth appeared. Some new items recorded outstanding growth such as toys, sports equipment and related components reached 3.3 billion USD, up 103%... The efforts of businesses and industries helped bring the total export turnover to an estimated 219.8 billion USD, up 14.4% over the same period in 2024, exceeding the set target; The trade surplus reached 7.63 billion USD, creating important room for flexible and stable fiscal and monetary policies.
It is also important to emphasize that exports are not only a matter of numbers but also an important indicator reflecting the production capacity, competitiveness and level of integration of the economy. Exports in the first 6 months of the year increased by more than 14%, an impressive figure, a great success of macroeconomic management, institutional reform and support for export enterprises; along with that, the adaptation of Vietnamese enterprises is being significantly improved. “Solutions to promote credit, develop production, improve the transparent and open investment-business environment, and policies to support the private economy have created conditions for enterprises to expand production and improve the competitiveness of export goods. In addition, the unified and consistent management from the Central to ministries, branches and localities creates a combined strength, helping to effectively exploit domestic resources to serve production-export”, Mr. Nguyen Anh Son, Director of the Import-Export Department ( Ministry of Industry and Trade ) emphasized.
Early warning of risks, ensuring supply chain transparency
With the current growth momentum, the target of achieving total export turnover of about 450 billion USD for the whole year, equivalent to a growth rate of 12%, is completely reasonable, contributing to ensuring the country's growth target of 8% or more in 2025. However, experts also warn that recent changes in US trade policy are revealing uneven prospects for industries as well as foreign investors in Vietnam and its partners. Some industries may maintain resilience, while others will be under greater pressure. Therefore, strategic responses from the Government and flexible adaptation by businesses will play a key role in maintaining export growth momentum.
From a business perspective, Mr. Le Tien Truong said that the important goal is to maintain orders from the US, Japan, and the European Union; exploit new markets; avoid losing market share due to low-cost competition. Make the most of existing production capacity, control efficiency through optimizing the efficiency of machinery and equipment, increase productivity; control costs well, reduce consumption. Along with that, apply automation, artificial intelligence (AI), increase labor value, develop green production - promote circular economy; promote internal strength, promote innovation.
According to Mr. Hoang Minh Chien, Deputy Director of the Trade Promotion Agency (Ministry of Industry and Trade), Vietnamese enterprises are currently facing major challenges from tariff policies and trade barriers of countries, especially the US. These challenges require enterprises to constantly innovate, improve competitiveness, revolutionize production and business methods and build strong brands to meet increasingly stringent standards of the international market. Particularly for the US - Vietnam's largest export market, the Trade Promotion Agency, the Vietnam Trade Promotion Office in New York, in coordination with other units, have been implementing many diverse trade promotion activities, focusing on international fairs, specialized exhibitions and business-to-business (B2B) connection programs in major US cities.
In order to maintain momentum and sustainable development, regarding solutions for import and export activities in the coming time, opinions also said that Vietnam's import and export activities need to prioritize strategic restructuring in a proactive, sustainable and adaptive direction. Ms. Nguyen Thi Huong, Director of the General Statistics Office (Ministry of Finance) suggested that one of the important solutions is to ensure transparency in the supply chain and control the origin. Promote trade promotion activities to serve selective imports of input materials, components, equipment, and technology for production to support domestic enterprises to improve production capacity and increase product value for export. At the same time, aim to increase the localization rate and develop supporting industries, encourage domestic enterprises to participate in the value chain of enterprises with large foreign direct investment. Along with that, build a database to warn early about markets with potential risks.
Source: https://baolangson.vn/xuat-khau-viet-nam-the-hien-suc-chong-chiu-va-kha-nang-but-pha-5054218.html
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