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August 31, 2022

Vietnam textile exports jump in seven months to July

Textile exports from Vietnam have risen by 20% in the first seven months of the year to US$22.24bn in value.

By Hannah Abdulla

The figures were released by the Customs Department of Vietnam which revealed the biggest increase in imports of textile and clothing from Vietnam came from the EU whose shipments rose 36.2% for the first seven months to July to US$2.58bn.

The US increased its textile and garment imports from Vietnam for the year to July by 21.3% on a year-on-year basis to $11.14bn.

Imports of textiles and garments from Vietnam to Japan rose 11.9% year on year to July to US$2.06bn and to the Republic of Korea rose 12.9% to $1.68bn.

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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