Fabric and garment exports from the Southeast Asian nation increased by 15.5 per cent year-on-year to $15.310 billion during January-June 2021. Of this, the US alone accounted for nearly half or $7.606 billion, followed by Japan and South Korea with exports to these countries valued at $1.572 billion and $1.243 billion, respectively.
Vietnam also exported 986,074 tons of yarn, registering a sharp rise of 35.5 per cent year-on-year by volume, according to the data. This was valued at $2.642 billion, registering a surge of 64.2 per cent. Of this, China imported around 54.23 per cent or $1.433 billion, followed by $35.424 million by India.
In 2020, Vietnam's textile and garment exports earned $33.546 billion, registering a decline of 9.35 per cent over $37.009 billion exports in the previous year. While yarn exports were down 10.5 per cent to $3.736 billion, fabric and garment exports decreased by 9.2 per cent to $29.809 billion.
For 2021, Vietnam has set a target to earn $39 billion from its textiles and garments exports, according to the Vietnam Textile and Apparel Association (VITAS).
ALCHEMPro News Desk (RKS)
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