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Saturday, July 13, 2024

Vietnam’s exports surge by 15%, textile and garment exports rise by 7.4%

In the first five months of the year, Vietnam’s exports experienced a robust 15% year-on-year growth, with notable contributions from fashion items, furniture, and household appliances. According to Ta Hoang Linh, director of the European-American market department at the Ministry of Industry and Trade (MoIT), the textile and garment sector saw a 7.4% increase in export turnover, reaching $12.8 billion. Meanwhile, exports in the footwear and handbag sector reached nearly $7.9 billion, marking a 7.3% rise year-on-year.

Tran Nhu Tung, vice president of the Vietnam Textile and Apparel Association (VITAS), revealed that the textile and garment sector is aiming for an export turnover of $44 billion this year, with positive signs evident in new orders during the first five months.

However, challenges persisted for some businesses as certain key importing countries implemented stricter standards regarding various aspects such as environmental sustainability, circular production, traceability of raw materials, safety regulations, business reporting, forest management, and chemical usage.

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