Vietnam’s textiles and apparel contribute the most to export growth

Vietnam’s “Business News” reported on April 20 that according to statistics from the General Administration of Customs of Vietnam, Vietnam’s textile and clothing exports in March this year were US$3.05 billion, a month-on-month increase of 48.3%, and a net increase of 1 billion. USD and above. Overall, Vietnam’s textile and apparel exports in the first quarter of this year were US$8.68 billion, a year-on-year increase of 20.3%, with a net increase of US$1.46 billion. This is the highest growth rate for the same period since 2012.

It is worth noting that textiles and clothing were the commodity category that contributed the most to Vietnam’s export growth in the first quarter, with an increase of US$1.46 billion (accounting for nearly 14% of Vietnam’s new exports). %).

In the first quarter, the United States continued to become Vietnam’s largest textile and apparel export market with an import volume of US$4.36 billion, a year-on-year increase of 24.2%, accounting for 50.3% of Vietnam’s total textile and apparel exports.

Other major markets: exports to the EU were US$896 million, an increase of 31.4%; exports to Japan were US$771 million, a decrease of 2.9%; exports to South Korea were US$754 million, an increase 6.9% etc.

In addition to textiles and clothing, Vietnam’s textile industry has also seen impressive growth in two other categories of export commodities: fibers, yarns and drapery fabrics, and technical fabrics.

Among them, fiber and yarn exports in the first quarter were US$1.45 billion, a year-on-year increase of 18.9%; curtain fabrics and technical fabrics exports exceeded US$700 million, an increase of 26.5%.

So far in the first quarter of this year, the export volume of the three major categories of commodities in the textile and apparel industry has reached 10.85 billion US dollars, completing more than 25% of the annual export target for 2022. It is expected that the export volume of the textile and apparel industry will reach US$42.0-43.5 billion in 2022.

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