The Communist Party of Vietnam Electronic News reported on January 18 that Vietnam’s textile, clothing and footwear industry exports totaled US$71 billion in 2022, a record high. Among them, the export value of textiles and clothing reached US$44 billion, a year-on-year increase of 8.8%; the export value of footwear and handbags reached US$27 billion, a year-on-year increase of 30%.
Representatives of the Vietnam Textile Association (VITAS) and the Vietnam Leather, Footwear and Handbag Association (LEFASO) said that Vietnamese textile, clothing and footwear companies are facing the challenges caused by the global economy. 2022 will be a challenging year for the industry as demand for textiles, clothing and footwear declines due to recession, tremendous pressure from global inflation. Especially in the second half of the year, economic difficulties and inflation affected global purchasing power, leading to a decline in corporate orders. However, the textile, apparel and footwear industry still achieved double-digit growth.
Representatives of VITAS and LEFASO also said that Vietnam’s textile, clothing and footwear industry has a certain status in the global market. Despite the global economic recession and reduced orders, Vietnam still wins the trust of international importers.
The production, operation and export targets of these two industries in 2022 have been achieved, but this does not guarantee that the growth momentum will still be maintained in 2023, due to many objective factors. adversely affect the development of the industry.
In 2023, Vietnam’s textile and apparel industry has proposed a goal of total exports reaching US$46-47 billion in 2023, while the footwear industry strives to achieve exports of US$27-28 billion. .
