(1) Textile and apparel exports will further grow in 2022, from US$40.4 billion in 2021 to US$45 billion, an annual increase of 11.3%.
(2) Vietnam’s textile industry has expanded rapidly in the past five years, with an annual growth rate of 20-26%. Currently, Vietnam ranks as the third largest exporter of textiles and garments in the world, second only to China and the European Union. It accounts for 5.2% of the global market. The main importing countries include the United States, South Korea, Japan, and Europe.
(3) In order to maintain the growth trend, the Vietnamese government should quickly provide financial assistance to enterprises and strengthen investment in the production of textile and clothing raw materials. At the same time, Vietnamese companies should adopt green manufacturing methods, including waste reduction and recycling, to meet buyers’ growing preference for environmentally friendly products.
