Pay Attention To Vietnam'S Textile And Garment Export In September

Vietnam's textile and clothing exports decreased by 31.9% from August to September 2022, but still higher than the same period last year. Therefore, industry experts believe that the country's clothing procurement will continue to grow in the medium term.

According to the latest data released by ccfgroup, a chemical fiber and cotton textile company, Vietnam's textile and clothing exports amounted to US $2.73 billion in September this year, up 19.7% over the same period in 2021. However, Vietnam's exports fell sharply by 31.9% in September, compared with a year-on-year high of $4 billion in August.

According to Dr. Sheng Lu, associate professor of fashion and clothing department of Delaware University, Vietnam has gained additional market share in most of the clothing import markets from January to August 2022, including the United States and the European Union, Japan and Canada.

Qu added: Although the rise in production costs in the country worries investors, the amount of clothing purchased from Vietnam is likely to continue to grow in the medium term. It is known that China is one of the priority countries in purchasing; Its textile and clothing industry, like many other countries, is booming.

With the help of foreign investment, Vietnam is steadily increasing its textile production capacity and reducing its dependence on imported textiles; Therefore, the decline of Vietnam's textile import value does not mean that the performance of the country's textile and clothing industry is poor. In addition, according to the World Trade Organization (WTO), Vietnam has surpassed South Korea in 2020 to become the world's sixth largest textile exporter (export value of US $10 billion), which is the first time in history.

From the perspective of exporting countries, most of Vietnam's textile and clothing exports to the United States, with a total amount of 980 million US dollars, to Japan's 380 million US dollars, and to South Korea, to 378 million US dollars; The three countries accounted for 36%, 14.1% and 14% of Vietnam's total textile and clothing exports respectively.

In early October, the latest data from the General Administration of Customs of Vietnam showed that the export value of textiles and clothing reached 27.5 billion US dollars from January to September this year, compared with 22.2 billion US dollars in the same period last year. Although compared with last year's growth, the value of textile and clothing exports decreased by 44.8% compared with that of August this year. In addition, the export value of footwear increased to 17.12 billion US dollars from 12.93 billion US dollars in the same period last year.