Vietnam earned USD 21.625 billion from textile and garment exports in the first seven months of 2021. Of this, yarn exports accounted for USD 3.163 billion while fabric and garment exports were valued at USD 18.461 billion, according to the preliminary data released by the customs IT & statistics department, general department of customs, Vietnam’s ministry of finance.

Fabric and garment exports from the Southeast Asian nation increased by 13.2 percent year-on-year to USD 18.461 billion during January-July 2021. Of this, the U.S. alone accounted for nearly half or USD 9.195 billion, followed by Japan and South Korea with exports to these countries valued at USD 1.841 billion and USD 1.492 billion, respectively.

 

Vietnam also exported 1,162,724 tons of yarn, registering a sharp rise of 31.9 percent year-on-year by volume, according to the data. This was valued at USD 3.163 billion, registering a surge of 65.0 percent. Of this, China imported around 54.56 percent or USD 1.726 billion, followed by USD 61.449 million by India.

 

In 2020, Vietnam’s textile and garment exports earned USD 33.546 billion, registering a decline of 9.35 percent over USD 37.009 billion exports in the previous year. While yarn exports were down 10.5 percent to USD 3.736 billion, fabric and garment exports decreased by 9.2 percent to USD 29.809 billion.

 

For 2021, Vietnam has set a target to earn USD 39 billion from its textiles and garments exports, according to the Vietnam Textile and Apparel Association (VITAS).

 

Source: fibre2fashion.com