Vietnam's total textile exports to global markets in the first 10 months of 2024 amounted to over 30.57 billion USD, a 10.5% increase compared to the same period in 2023, with exports to the EU accounting for 11.46% of the total export turnover. Vietnam has risen to the 6th position in the list of the largest textile exporters to the EU, after China, Bangladesh, Turkey, India, and Pakistan.

The EU is the largest textile import market in the world. As the EU economy begins to recover and purchasing power improves, it has boosted imports, including textiles from Vietnam. Vietnam's textile exports to the EU have gained advantages over many other exporting countries thanks to the Vietnam-EU Free Trade Agreement (EVFTA), which is now in its 5th year of implementation.

 Under the commitments in the EVFTA, 100% of Vietnam's textile products will enjoy 0% import-export tariffs within a maximum of 7 years from the date the Agreement takes effect, providing a significant impetus for expanding market share in the EU. According to the Vietnam Trade Office in Belgium and the EU, since the EVFTA came into effect, Vietnam's share of total textile imports to the EU from outside the bloc has increased from 3.3% (in 2020) to 4.3% (in 2023).

According to calculations from Vietnam's customs statistics, in the first 10 months of 2024, Vietnam's textile exports to the EU reached over 3.5 billion USD, a 10.61% increase compared to the same period in 2023. Among these, the Netherlands and Germany are the two largest markets for Vietnam's textile products, together accounting for 46.5% of the total textile export turnover to the EU. Exports to the Netherlands amounted to nearly 998.82 million USD, a 25.82% increase compared to the same period in 2023, making up 28.51% of total textile exports to the EU. Exports to Germany reached nearly 633.89 million USD, a decrease of 9.01%, accounting for 18.09%.

Six markets with export turnover exceeding 100 million USD in the first 10 months of 2024 include: the Netherlands and Germany as mentioned, followed by Spain with over 507.16 million USD, an increase of 10.13% compared to the same period last year, accounting for 14.48% of total textile exports to the EU; France with nearly 407.91 million USD, a 17.62% increase, accounting for 11.64%; Belgium with over 351.84 million USD, a 2.25% increase, accounting for 10.04%; and Italy with nearly 282.94 million USD, a 14.33% increase, accounting for 8.08%.

Some markets with strong growth in exports in the first 10 months of 2024 include: Hungary, which surged by 117.18%, reaching nearly 2.25 million USD; Slovakia, which increased by 98.81%, reaching over 4.47 million USD; Romania, which rose by 55.07%, reaching nearly 6.32 million USD; and Luxembourg, which grew by 50.79%, reaching over 5.01 million USD.

On the other hand, exports declined sharply in markets such as: Bulgaria, which decreased by 75%, reaching only 364,963 USD; Lithuania, which fell by 92.82%, reaching 118,178 USD; and Estonia, which saw a 61% decrease, reaching 69,750 USD.

Market	Octomber of 2024			10 months of 2024
	Value (USD)	Month-on-month (%)	Year-on-year  (%)	Value (USD)	Year-on-year  (%)	Market share (%)
EU	397,412,290	+23.2	+29.47	3,503,342,758	+10.61	100
Netherlands	118,719,685	+41.97	+33.48	998,817,079	+25.82	28.51
Germany	71,380,231	+35.52	+9.93	633,887,735	-9.01	18.09
Spain	52,896,238	-20.7	+16.83	507,164,360	+10.13	14.48
France	52,867,117	+15.72	+89.51	407,914,432	+17.62	11.64
Belgium	31,925,896	+26.46	-11	351,840,180	+2.25	10.04
Italy	31,842,361	+31.11	+42.22	282,941,759	+14.33	8.08
Poland	10,711,432	+26.27	+67.94	93,761,516	+13.84	2.68
Sweden	8,095,717	+24.58	+53.29	80,423,030	+15.57	2.30
Denmark	8,087,901	+84.25	+168.93	54,068,093	+11.24	1.54
Cheque	3,657,655	+253.09	+39.55	25,003,031	+49.16	0.71
Clothing	1,399,344	+6.48	+38.69	10,497,149	+3.13	0.30
Finland	1,145,363	+108.66	+23.62	7,597,307	-8.32	0.22
Greece	361,592	+36.56	+3.81	5,321,463	-14.49	0.15
Luxembourg	1,444,836	+79.43	+269.07	5,014,360	+50.79	0.14
Slovakia	402,246	-49.18	+21.67	4,466,238	+98.81	0.13
Hungary	1,098,539	+363.24	+1.219.87	2,245,418	+117.18	0.06
Ireland	1,673,272	+10	+14.95	15,592,954	-26.80	0.45
Portugal	223,539	+257	+104.81	901,891	-10.23	0.03
Bulgaria	101,843	+4.322	-53.97	364,963	-75.01	0.01
Estonia	0			69,750	-61.01	0.00
Latvia	261,795	-56.58	-20.46	3,712,455	+7.06	0.11
Lithuania	102,738		+170	118,178	-92.82	0.00
Malta	467,880	+201.5	+371.3	1,173,571	-29.65	0.03
Romania	1,074,450	+28.19	+73.3	6,316,498	+55.07	0.18
Slovenia	2,714,412	+499.7	+393	12,527,087	-18.57	0.36

According to calculations from Vietnam's customs statistics, in the first 10 months of 2024, the category of textile items under HS code 62 (non-knitted or crocheted apparel and clothing accessories) was the highest-exporting item to the EU, reaching nearly 1.84 billion USD, accounting for 52.57% of the total export turnover. The second largest category was knitted or crocheted apparel and clothing accessories (HS code 61), which reached over 1.42 billion USD, accounting for 40.41% of the total textile export turnover to the EU.

T.Huong

Source: Vitic