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Vietnam's textile export turnover hits $44 bn in 2024: VITAS

18 Dec '24
1 min read
Vietnam's textile export turnover hits $44 bn in 2024: VITAS
Pic: Adobe Stock

Insights

  • Vietnam's textile and garment industry has fulfilled its $44-billion export turnover target this year—a rise of over 11 per cent YoY, the Vietnam Textile and Apparel Association (VITAS) said.
  • The industry has set an export target of $47-48 billion in 2025.
  • Despite global consumption of textile and garment products not rising this year, Vietnam's exports still saw positive results, VITAS noted.
Vietnam's textile and garment industry has fulfilled its $44-billion export turnover target this year—a rise of over 11 per cent year on year (YoY), according to the Vietnam Textile and Apparel Association (VITAS), which recently said positive market signals offer a solid foundation for the industry to set an export target of $47-48 billion in 2025.

Many businesses have signed order agreements for the first quarter (Q1) of 2025 and are negotiating for Q2.

Despite global consumption of textile and garment products not rising this year, Vietnam's exports still saw positive results, VITAS chairman Vu Duc Giang was cited as saying by a domestic news agency.

The country’s textiles and garments are now exported to over 100 markets worldwide, including new markets like Africa and the Middle East.

Due to the Vietnam-Eurasian Economic Union Free Trade Agreement, the country’s textile exports to Russia saw a remarkable surge to $1 billion this year.

ALCHEMPro News Desk (DS)
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