Vietnam's textile-garment makers tap prospects as restrictions lifted

11 Jun '21

1 min read

Pic: Shutterstock

As COVID-19-related restrictions are being gradually lifted in many countries, importers of Vietnamese textile and garment products have been opening up opportunities for enterprises to boost production and expand export markets. According to the Vietnam’s general department of customs, the export turnover of the sector was nearly $9.7 billion in the first four months of 2021—an increase of 10.7 per cent over the same period last year.

The US continued to be the largest importer of Vietnam’s textile and garment products at $4.7 billion during this period, a year-on-year (YoY) increase of 18.7 per cent, accounting for 48.7 per cent of the country's total export value of textiles and garments, followed by Japan at $1.07 billion and the European Union (EU) at $942 million, according to a news agency report.

Textile and garment enterprises have signed orders until the end of third quarter. Many units have signed contracts for orders until the end of the year and are entering into negotiations for 2022. Businesses in the sector are aiming to achieve an export turnover of $39 billion this year.

Fibre2Fashion News Desk (DS)

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