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Vietnam's apparel exports thrive amid global economic uncertainty

In the face of burgeoning uncertainties in the global economy, Vietnam&#**;s garment industry is witnessing a significant upturn, positioning the country as one of the leading apparel exporters in Asia. As **** draws to a close, forecasts suggest that Vietnam&#**;s exports will continue to flourish, heralding a robust start to ****.

Vietnam is Asia&#**;s second-largest apparel exporter, trailing only China and Bangladesh. Sharing a similar background in the textile industry and enjoying equivalent duty exemptions on exports, both countries have benefitted from their apparel trade. Although there was a slight decline in exports in ****, data released by Vietnam Textile and Apparel Association (VITAS) for September indicates that Vietnam&#**;s overall imports increased in October, according to Centre for Economics and Business Research (CEIC) data. The exports in October also offered some relief to the industry, which had been concerned about a potential decrease due to falling consumer confidence in major importing regions like the United States and Europe. Vietnam already has free trade agreements (FTAs) with the US and the EU, enabling the country to reap the associated benefits.