Speaking at a press conference announcing a coming conference reviewing the association’s performance in 2023, VITAS Chairman Vu Duc Giang said that this year, Vietnam’s textile and apparel industry sees many major challenges including the global impact of the Covid-19 pandemic and large inventory due to falling demand.

At the event.

“Despite the decline in exports, the export turnover is still considered a breakthrough demonstrating great efforts of the business community,” Giang said, adding that in 2023, Vietnamese textile and garment products entered 104 countries and territories – a record number of markets.

According to VITAS, the four biggest importers of Vietnamese textiles and garment in 2023 are the US with a turnover of over 11 billion USD, Japan about 3 billion USD, the Republic of Korea 2.43 billion USD, and the EU 2.9 billion USD.

Vietnamese producers have been making efforts to diversify products for export with 36 types of products.

Diversifying markets, products, customers, and partners is a way for Vietnam's textile and garment industry to reduce its reliance on large markets. New markets have started importing products from Vietnam, helping to affirm Vietnam’s position in the global market, Giang emphasised.

Garment-textile exports aim to reach 68-70 billion USD by 2030

Vietnam’s garment-textile sector strives to achieve a total export value of 68-70 billion USD, according to the development strategy for the apparel and footwear industry to 2030, with a vision to 2035.

Garment-textile industry applies digital transformation, circular production to overcome difficulties

(BGO) - In the context of sharply increasing industrial investment rates and workers' wages in Bac Giang province, some textile and garment investors have moved production to other countries. Therefore, the application of digital transformation and green and circular production in this field is very important, helping businesses save production costs, protect the environment, and overcome difficulties.

Vietnam’s garment sector deals with market instability

Despite generating revenue of over 44 billion USD in 2022, Vietnam’s garment sector is expected to face headwinds in the coming time as consumers in the world continue to tighten their budgets due to high inflation.

Textile-garment targets up to $48 billion in 2023 export turnover

Textile and garment exports may reach $47-48 billion in the positive scenario for 2023 and $45-46 billion in the lower-case scenario, said the Vietnam Textile and Apparel Association (VITAS).

ASEAN countries seek to form textile, garment connectivity chains

The ASEAN Federation of Textile Industries (AFTEX) held the 48th council meeting and the 46th plenary session in Ho Chi Minh City on December 15.

Source: VNA