VITAS Chairman Vu Duc Giang speaks at the press conference. (Photo: VNA)Hanoi (VNA) – Vietnam Textile and ApparelAssociation (VITAS) on November 23 announced that Vietnam’s textile and apparelexports are estimated to top 40 billion USD, about 9% less than that oflast year.
Speaking at a press conference announcing a coming conference reviewing the association’s performance in 2023, VITAS Chairman Vu Duc Giangsaid that this year, Vietnam’s textile and apparel industry sees manymajor challenges including the global impact of the COVID-19 pandemic andlarge inventory due to falling demand.
“Despite the decline in exports, the export turnover is stillconsidered a breakthrough demonstrating great efforts of the businesscommunity,” Giang said, adding that in 2023, Vietnamese textile and garmentproducts entered 104 countries and territories – a record number of markets.
According to VITAS, the four biggest importers of Vietnamesetextiles and garment in 2023 are the US with a turnover of over 11 billionUSD, Japan about 3 billion USD, the Republic of Korea 2.43 billion USD, andthe EU 2.9 billion USD.
Vietnamese producers have been making efforts to diversifyproducts for export with 36 types of products.
Diversifying markets, products, customers, and partners is a way for Vietnam's textile and garment industry to reduce its reliance on largemarkets. New markets have started importing products from Vietnam, helping to affirmVietnam’s position in the global market, Giang emphasised./.
