The US, EU and South Korea were the biggest absorbers of Vietnams footwear and apparel shipments between January and April

The US, EU and South Korea were the biggest absorbers of Vietnam's footwear and apparel shipments between January and April

Vietnam's textiles, garment and footwear exports have risen 7.1% year-on-year in April to US$2.3bn, according to new data from the country's Ministry of Industry and Trade (MOIT).

The figures show textile and garment exports for the first four months rose 9.8% year-on-year to reach US$9.43bn, while exports of shoes grew 13.4% to US$5.33bn from the same period a year earlier.

According to Vinanet, the industry and trade information centre, the US was the largest market for Vietnamese exports in the four-month period, with footwear and textile shipments growing 9.4% and 8.5% respectively. The EU saw footwear exports rise 7%, while textile and garment exports to the ASEAN markets grew 36.7%.

Exports of textiles and garments to South Korea – the fifth largest export market – rose 10%, and shipments to Japan of footwear and textiles and garments were up 26.7% and 6.9% respectively.

Last week, the Vietnam National Textile and Garment Group (Vinatex) announced its official 2018 financial results, confirming a 16% growth in pre-tax profits to VND41.4trn (US$1.7bn).

The country is eyeing export growth to US$40m this year, a rise of 10.8% on 2018 thanks to the highly competitive nature of the Vietnamese products and higher investments in the textile and dyeing industry.