According to statistics from the General Administration of Customs of Vietnam, Vietnam’s textile exports reached US$8.68 billion in the first quarter of 2022, an annual increase of 20.3%, approximately US$1.46 billion, the highest growth rate since 2012 1 season. Among them, exports to the United States accounted for approximately 50.3%, amounting to US$4.36 billion, an annual increase of 24.2%; the EU amounted to US$896 million, an annual increase of 31.4%; Japan US$771 million, an annual decrease of 2.9%; South Korea US$754 million, an annual increase 6.9%.
It is predicted that the total global demand for textiles this year will increase by 3% compared with 2021. In addition, Vietnam will still maintain its lead in the global supply chain after experiencing a severe new crown epidemic. status, therefore Vietnam has the advantage of being the first destination for major global customers to return to place orders. In fact, many textile industries have stated that export orders have continued to increase recently.
Vietnamese textile companies also estimate that if the new crown epidemic is controlled, Vietnam’s total textile exports this year will reach 42-43.5 billion US dollars.
Many textile companies have currently received orders into the third quarter of this year, but companies believe that it is difficult to predict future market development because it depends on changes in the COVID-19 epidemic. However, the good news is that the United States and the European Union have reopened, especially Vietnam’s implementation of Resolution 128/ND-CP, measures to coexist with the epidemic, and the new generation of free trade agreements that have taken effect, all of which will help Vietnam’s textile companies expand. Foreign market territory.
