Vietnam'S Textile And Clothing Exports Increased By 21% In The First Half Of The Year

According to Vietnam +, the industry and trade information center of Vietnam's Ministry of industry and trade announced that the export value of Vietnam's textile and garment industry reached 19.18 billion US dollars in the first half of 2021, up 21% year-on-year and 4.25% higher than the same period in 2019. However, the epidemic situation of Xinguan continues to be complex and difficult to predict. Textile enterprises are required to take corresponding measures to effectively prevent the epidemic and maintain stable production so as to prepare for export promotion.

According to the center, Vietnam's textile and garment exports slowed down in 2020, but recovered rapidly from the last few months of 2020 and grew strongly in the first six months of 2021.

According to the Ministry of industry and trade, the competitiveness of Vietnam's textile and garment industry has been continuously improved from 2016 to 2020. In the case of an average annual decline of 0.26% in the global market, Vietnam's textile and clothing exports still achieved an average annual growth of 6.13% during this period.

In 2020, Vietnam's textile and garment exports accounted for 7.05%, higher than 5.54% in 2016, making it the fourth largest textile and garment exporter in the world, after China, the European Union and Bangladesh. At the same time, China's textile and clothing market share continued to shrink from 34.31% in 2016 to 29.45% in 2020.

Vietnam's textile and clothing products are sold to more than 200 countries and regions in the world, a significant increase compared with 150 in 2016. At present, Vietnam's textile and garment industry is striving to achieve breakthroughs in China, Russia, Cambodia, Indonesia, Thailand and other markets.

According to the Ministry of industry and trade, Bangladesh, Turkey and other competitive supply markets have internal problems in their textile and garment industries, which are unable to achieve breakthroughs and compete directly with Vietnam.

In the future, due to the tense trade relations between the United States and China, the trend of export transfer will occur. Deep Participation in the new generation of free trade agreements such as cptpp, evfta and RCEP will create opportunities for Vietnam's textile and garment export.