Vietnam'S Textile And Clothing Export Plans Increase By An Average Of 6% Over The Next Five Years.

According to statistics from Vietnam textile and Apparel Association, Vietnamese yarn production exceeded 2 million 500 thousand tons in 2019, exports exceeded 1 million 500 thousand tons, and exports amounted to 4 billion US dollars. Fabric exports amounted to US $2 billion 100 million.

According to Vietnamese media reports, the fourth industrial revolution and free trade agreement in China has been implemented since 2020. International brands such as Zara, H&M and Mango will enter Vietnam's market and promote the development of Vietnam's textile industry. At present, Vietnam's textile industry has made great progress, especially yarn and printing and dyeing. Through the application of IT, production efficiency has been increased, production capacity has been expanded and employment has been reduced.

According to Vietnamese customs statistics, Vietnam's textile and clothing exports reached 39 billion 600 million US dollars in 2019, an increase of 7.3% over the same period last year, reaching 99.07% of the plan, down from 105.42% in 2018. Among them, exports of textiles and textiles amounted to US $4 billion 170 million, an increase of 3.77% over the same period last year, down from 12% in 2018 and 22.7% in 2017. Clothing exports amounted to US $32 billion 850 million, an increase of 7.79% over the same period last year, lower than the growth rate in 2018 and 2017.

After several years of rapid growth, Vietnam's textile and clothing exports have declined markedly, mainly due to the uncertainty of the international market and the free trade agreement between Vietnam and the EU. In 2020, despite the easing of Sino US economic and trade relations, Vietnam's textile and clothing exports will still be affected by fluctuations in global economic growth and global supply chain changes. The five year plan of Vietnam's textile and garment industry in the past 2020-2025 years is to achieve an average annual increase of 6% in exports and an export target of 415-420 billion in 2020.