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July 25, 2022

Vietnam textile, garment exports see 20.8% jump in H1

Vietnam’s textile and garment exports during the first half have seen a 20.8% increase year on year to US$18.53bn according to new figures released by the Customs Department.

By Hannah Abdulla

The General Department of Customs says for the first half, textile and garment exports from Vietnam grew by US$3.19bn in value terms.

Textile and garment export growth by destination

  • US – up 22.7% to US$9.33bn
  • EU – up 37.5% to US$2.13bn
  • Japan – up 6.1% to US$1.67bn
  • South Korea – up 9.7% to $1.37bn

Footwear exports during the first half rose 13.5% to US$11.8bn year on year.

The US and EU were the biggest importers of footwear products from Vietnam, with a year on year rise of 23.2% and 19% respectively.

Chinese imports of Vietnam’s footwear product however fell 20.2% to US$799m, as did Japan’s, which was down 2.9% to $496m.

Overall during the first half the total import and export value of Vietnam’s goods reached US$371.32bn, up 16.4%, equivalent to an increase of US$52.32bn over the same period in 2021.

According to the US Fashion Industry Association’s annual report Vietnam remains a key sourcing destination for US buyers.

Drawing on the results of its 2022 Fashion Industry Benchmarking Study, the USFIA says exactly half of the respondents are sourcing more from Vietnam than China in 2022 as fashion companies look to diversify their sourcing strategies.

After China and Bangladesh, Vietnam is the world’s third-largest apparel exporting country. Just Style recently carried out analysis to hear what fashion companies had to say about Vietnam as a sourcing destination.

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