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Textile exports to the EU increased by 28.55% in August 2024 

 Monday, October 28,2024

AsemconnectVietnam - The EU is one of the most important export markets for Vietnam's textile industry. In August 2024, textile exports to the EU reached over 411.89 million USD, a decrease of 5.56% compared to July 2024 but an increase of 28.55% compared to August 2023.

In the first eight months of 2024, textile exports to the EU accounted for 11.31% of the total textile export turnover of the country, amounting to over 2.78 billion USD—a 7.49% increase compared to the same period in 2023. During this period, six major markets within the EU recorded textile export turnover exceeding 100 million USD each. As the world’s third-largest textile exporter, employing over 2 million workers, Vietnam’s textile industry is significantly influenced by global market trends. 
Vietnam’s key competitors in the EU textile market, including China, Bangladesh, Turkey, and ASEAN countries like Myanmar, Cambodia, Laos, and Indonesia, are continuously enhancing their competitive capacity. Many of these countries are actively transitioning to sustainable textile production models to meet the increasingly stringent requirements of the Green Deal. Under this pressure, Vietnam’s textile industry must quickly adapt and accelerate its green transformation to maintain and enhance its position in the EU market. 
Textile and Garment Export Revenue to the EU and Its Proportion in Vietnam’s Global Textile and Garment Exports for the First Eight Months of 2024 
Unit: USD 
 
Product Category 
August of 2024 
8M/2024 
Export Revenue (USD) 
Month-on-month(%) 
Year-on-year
(%) 
Export Revenue (USD) 
Compared to  
8M/2023 (%) 
Total Textile and Garment Exports of Vietnam 
4,054,694,437 
 
+0.12 
+17.28 
24,350,259,814 
 
+8.08 
Textile and Garment Exports to the EU 
411,894,858 
 
-5.56 
+28.55 
2,783,381,660 
 
+7.49 
EU's Share in Vietnam’s Total Textile and Garment Exports (%) 
10.16 
 
 
11.31 
 
  Source: Calculations based on data from the General Department of Vietnam Customs 
Structure of Member Markets Based on Export Value from Vietnam 
In August 2024, Vietnam's textile and garment exports to the EU reached over $411.89 million, marking a 5.56% decline from July but an impressive 28.55% increase compared to August 2023. The leading markets for this period included the Netherlands, with exports exceeding $109.52 million (down 9.37% month-on-month but up 37.68% year-on-year); Germany at over $70.13 million (a 6.79% decrease from July, but an 8.7% increase from the previous August), and Spain, which saw exports of over $76.03 million, reflecting a 26.88% rise from July and a 23.78% increase year-on-year. Several markets experienced significant growth compared to July 2024, including Hungary (up 455.85% to $285,835 million), Lithuania (up 232.7% to $8,740 million), Slovenia (up 221% to $3.06 million), and Portugal (up 214.87% to $205,358 million).
However, exports declined sharply in other markets, with Bulgaria down 79% to $18,501 million, Finland down 60.25% to $318,010, Latvia down 58% to $192,774 million, Malta down 51.54% to $96,026 million, and Slovakia down 50.83% to $289,303 million. In total, from January to August 2024, Vietnam exported over $2.78 billion in textiles and garments to 25 EU markets, reflecting a 7.49% increase compared to the same period in 2023. Notably, the Netherlands and Germany emerged as the largest consumers, together accounting for 47% of total exports to the EU. 
Exports to the Netherlands reached over 796.29 million USD, an increase of 24.16% compared to the same period in 2023, accounting for 28.61% of the total export value of textiles to the EU. Exports to Germany reached nearly 508.92 million USD, a decrease of 13.17% compared to the same period in 2023, accounting for 18.28%. In the first eight months of 2024, there were six major markets exporting textiles to the EU with export values exceeding 100 million USD. Besides the two main markets of the Netherlands and Germany mentioned above, other markets included Spain, which achieved over 388.33 million USD, an increase of 4.56% compared to the previous year, accounting for 13.95% of the total export value of textiles to the EU; France, reaching nearly 308.86 million USD, an increase of 9.52%, accounting for 11.1%; Belgium, which achieved over 294.74 million USD, an increase of 2.85%, accounting for 10.59%; and Italy, reaching nearly 226.82 million USD, an increase of 8.94%, accounting for 8.15%. 
Several noteworthy textile export markets in the first eight months of 2024 saw significant growth compared to the same period in 2023, despite smaller export values. The Czech Republic increased by 51.05% to nearly 20.15 million USD; Slovakia increased by 78.37% to over 3.27 million USD; and exports to Romania increased by 36.3% to nearly 4.4 million USD. Conversely, textile exports saw significant declines in markets such as Bulgaria, which decreased by 77.43% to only 260,817 USD; Lithuania, which decreased by 99.04% to 15,440 USD; Malta, which decreased by 50.84% to nearly 550,506 USD; Estonia, which decreased by 44.4% to nearly 67,725 USD; and Slovenia, which decreased by 35.77% to nearly 9.36 million USD. 
Textile exports from Vietnam to EU member markets in the first eight months of 2024 
 
Market 
August of 2024 
8M/2024 
 
Export Value (USD) 
Month- on- month
(%) 
Year- on- year
 (%) 
 
Export value (USD) 
Compared to 
8M/2023 (%) 
Market share (%) 
 Total export value 
 
411,894,858 
-5.56 
+28.55 
2,783,381,660 
 
+7.49 
100 
Netherlands 
109,521,610 
-9.37 
37.68 
796,294,962 
24.16 
28.61 
Germany 
70,125,852 
-6.79 
8.7 
508,919,718 
-13.17 
18.28 
Spain 
76,030,695 
26.88 
23.78 
388,325,101 
4.56 
13.95 
France 
51,738,411 
1.15 
40.95 
308,859,693 
9.52 
11.10 
Belgium 
37,631,657 
-26.4 
15.17 
294,736,353 
2.85 
10.59 
Italia 
26,679,091 
-33.94 
33.3 
226,824,643 
8.94 
8.15 
Poland 
13,025,878 
34.76 
26.11 
74,570,160 
7.31 
2.68 
Sweden 
12,366,747 
8.43 
105.35 
65,796,993 
6.67 
2.36 
Denmark 
6,330,821 
-9.86 
57.35 
41,402,448 
-2.9 
1.49 
Czech Republic 
2,044,323 
-40.93 
40.4 
20,146,582 
51.05 
0.72 
Austria 
1,806,044 
-0.51 
56.87 
7,781,476 
-5.12 
0.28 
Finland 
318,010 
-60.25 
-65.6 
5,903,035 
-18.64 
0.21 
Greece 
592,136 
-4.51 
-34.59 
4,694,090 
-12.27 
0.17 
Slovakia 
289,303 
-50.83 
206.28 
3,272,530 
78.37 
0.12 
Luxembourg 
338,348 
-49.22 
-1.07 
2,764,295 
6.66 
0.10 
Hungary 
285,835 
455.85 
1.241.38 
909,738 
3.89 
0.03 
Ireland 
2,163,013 
-17.20 
-14.22 
14,071,850 
-22.83 
0.51 
Portugal 
205,358 
+214.87 
+480.14 
615,747 
-23.82 
0.02 
Bulgaria 
18,501 
-79.08 
-88.77 
260,817 
-77.43 
0.01 
Estonia 
0 
100.00 
100.00 
67,725 
-44.40 
0.00 
Latvia 
192,774 
-58.10 
+147.36 
2,847,678 
+6.24 
0.10 
Lithuania 
8,740 
+232.70 
-91.88 
15,440 
-99.04 
0.00 
Malta 
96,026 
-51.54 
+92.80 
550,506 
-50.84 
0.02 
Romania 
557,146 
+26.43 
+17.81 
4,403,902 
+36.30 
0.16 
Slovenia 
3,060,247 
+221.03 
+550.79 
9,360,074 
-35.77 
0.34 
Source: Calculated from data by the General Department of Customs of Vietnam 
Source: Vitic

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