Vietnam’s textile and garment exports surged by 6.3% to $20.2B in first seven months of 2024

Vietnam’s textile and garment industry has shown strong resilience and growth in the first seven months of 2024. Between January and July, the sector’s exports surged by 6.

3% year-on-year, reaching a substantial $20.2 billion. This performance highlights the industry’s ability to recover and expand amidst global challenges.

The Vietnam Textile and Apparel Association (VITAS) attributes this growth to several factors, including the sector’s adaptability to market changes and the increased demand for Vietnamese textiles in key export markets.

The United States, the European Union, and Japan remain the largest importers of Vietnamese garments, driving the industry’s expansion.



A significant contributor to this growth is the industry’s continuous investment in modern technology and sustainable practices.

Vietnamese manufacturers have increasingly adopted eco-friendly production methods, catering to the growing global demand for sustainable fashion. This shift not only enhances the industry’s competitiveness but also aligns with global trends towards environmental responsibility.

Moreover, trade agreements such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the European Union-Vietnam Free Trade Agreement (EVFTA) have provided Vietnamese textiles with preferential access to major markets.

These agreements have helped reduce tariffs and increase the appeal of Vietnamese products internationally.

Despite facing challenges such as fluctuating raw material prices and global economic uncertainties, Vietnam’s textile and garment industry is on track to achieve its ambitious export targets for the year. With a strong foundation and strategic market positioning, the industry is poised for continued growth and success.