Vietnam textile & garment exports down 14.4% between January & August

Vietnam’s textile and garment exports fell 14.4 percent from a year ago period to US $22.5 billion in the period between January and August 2023.

Of these, exports to the US reached $10.1 billion, a drop of 22.4 percent, to the EU $2.66 billion, down 11.9 percent, and to South Korea slipped to $2.08 billion, a decline of 3 percent.

For August 2023, textile and apparel exports however grew to $3.4 billion, a rise of 5.5 percent over August 2022.

With stocks of US garment retailers falling and the festive season coming up, Vietnamese clothing exports are expected to be in a positive zone for the rest of the year.