Vietnam Textile And Clothing Association (Vitas): The Textile And Clothing Industry Maintains Good Growth
Vietnam's Vietnam Economy reported on December 2 that Wu Dejiang, chairman of Vietnam Textile and Clothing Association (Vitas), said that Vietnam's textile and clothing industry maintained good growth against the background of continuous complex and volatile world situation, slow trade recovery, and declining global investment. It is estimated that Vietnam's textile and clothing exports will reach the expected level of 44 billion US dollars in 2024, an increase of 11.26% over 2023. It is estimated that imports will reach 25 billion US dollars, up 14.79% year on year; The trade surplus was US $19 billion, up 6.93% year on year.
In 2024, Vietnam's largest textile export market will be the United States, with an estimated export volume of US $16.71 billion, up 12.33% year on year, accounting for 37.98% of the total export volume. Other major markets are Japan, the European Union, South Korea, China and ASEAN.
(Source: website of Ministry of Commerce)
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