Vietnam Textile and Apparel Association (VITAS) anticipates export will reach $39 billion next year, the same as this year, if pandemic impacts are significant and linger until the end of the year. In the more optimistic scenarios that the pandemic is controlled by the second quarter, export could reach $41 billion, and by the first quarter, $43.5 billion, VITAS stated. The association made its forecast as export this year expanded 12 percent from last year and 0.3% from 2019, indicating a recovery to the pre-pandemic level.
In 2020 Vietnam became the world’s second-largest apparel exporter for the first time. Prior to 2020, Bangladesh had been the second-largest apparel exporter for five years. Nonetheless, Vietnam’s lead over Bangladesh in 2020 was slim, and those from China dwarfed apparel exports from both countries. Furthermore, they fell in 2020, although exports from Vietnam fell at only half the pace of Bangladesh. Even after COVID-19 jolted the world trade and economic conditions, Vietnam continued its excellence.
Vu Duc Giang, VITAS chairman, said, “This could be considered a great effort of Vietnam’s garment industry amid signs of slower global economic growth. Another supporting factor is that Vietnam has changed its Covid-19 fight policy from “zero Covid-19″ to living with it. Garment and textile need an overall strategy so Vietnamese companies can export products under their own brands until 2030”.
