AsemconnectVietnam - Garment and textile exports from Vietnam to foreign markets edged up by 5.04% to over US$16.52 billion during the first half of the year, according to statistics released by the General Department of Vietnam Customs.

Of which, exports to the EU accounted for 11.54% of the total turnover, representing a rise of 1.63% to nearly US$1.91 billion. Vietnamese garment and textile exports to the EU recovered slightly during the first half of the year, with turnover reaching more than US$1.9 billion in the reviewed period, according to statistics released by the General Department of Vietnam Customs.
Most notably, the country’s garment and textile exports to the Netherlands recorded the strongest recovery with approximately US$565.29 million, representing a rise of 19.97% on-year and making up 29.65% of total export turnover to the EU. Furthermore, the country grossed nearly US$14.52 million from exports to the Czech Republic, thereby representing a sharp rise of 48.98%. Meanwhile, exports to Slovakia and Luxembourg also skyrocketed by 55.32% and 24.76% to reach US$2.39 million and over US$1.74 million, respectively.
Garment and textile industry adapts to find opportunities amid new purchasing trends
Although the garment and textile market is recovering, manufacturing companies are facing new challenges in terms of order methods, labor, and more, requiring businesses to develop management strategies and promote technological innovation to adapt to the market. According to Mr. Vu Duc Giang, Chairman of the Vietnam Textile and Apparel Association (VITAS), the garment and textile market has shown more positive growth since the beginning of 2024 compared to 2023. The textile industry aims to achieve USD44 billion in exports in 2024. As of May 2024, the export turnover of textiles reached over USD15.8 billion, an increase of 4.3% compared to the same period in 2023.The gradual warming of the Vietnamese textile market is attributed to key markets such as the US and Europe controlling inflation, leading to a recovery in consumer purchasing power.
Textile industry gains edge with high-value production capabilities
Vietnam has scored higher overall than China and Bangladesh in the United States Fashion Industry Association (USFIA)’s recent survey comparing the competitive advantages of textile-exporting countries to the US.The survey shows that Vietnam is having better competitive edge thanks to its ability to produce a diverse range of high-value products.
Vietnam is currently leading in the capability to produce a wide variety of products quickly, which is a result of its investments in machinery and skilled labour. However, in the long term, other countries may catch up, potentially reducing this advantage.
FDI, Export Targets to Propel Sustainability Adoption in Vietnam’s Garment and Textile Sector
The stakes are high for Vietnam’s garment and textile sector as key exports markets and competing producer markets intensify their push for green targets, influencing brand appeal to consumers and sourcing decisions by global fashion retailers. According to the Vietnam Textile and Apparel Association (VITAS), as of the end of May 2024, Vietnam’s textile and garment sector had attracted over US$37 billion in foreign direct investment (FDI). This substantial inflow underscores the sector’s potential, particularly as global markets shift towards sustainable development.
Vietnam textile and garment businesses are now compelled to strategize a green transition to ensure they retain competitiveness in the global fashion and textile market, which has doubled down on the pivot to sustainability. Maintaining unrestricted market access may hinge on adopting green practices and improving the environmental, social, and governance (ESG) profiles of suppliers.
Textile and garment exports projected to grow by up to 10% amid abundant orders
The majority of garment companies of the Vietnam Textile and Garment Group have enough orders until the end of the year and are currently negotiating orders for early 2025.
With export earnings of more than US$16 billion, garments and textiles are one of the leading industries for export turnover in the nation, with most firms securing signed export orders by the end of the fourth quarter of this year and even until the first quarter of next year. The majority of garment companies of the Vietnam Textile and Garment Group have enough orders until the end of the year and are currently negotiating orders for early 2025. The first half of this year saw apparel exports fetch roughly US$16 billion, marking an increase of US$3.1 billion compared to the same period from last year.
T.Huong
Source: Vitic