Vietnam’s Textile and Garment Exports Surpass $4 Billion per Month, Highest in Two Years

July 2024 marked the first month in 2024 when textile and garment exports exceeded the $4 billion threshold, achieving the highest monthly export value since August 2022.

According to the latest statistics from the General Department of Vietnam Customs, Vietnam’s textile and garment export value reached $4.29 billion in July, up 12% compared to the same period last year and a 16% increase from the previous month. This was the first month in 2024 that textile and garment export value surpassed $4 billion, and it also marked the highest export value since August 2022.

Cumulatively, over the first seven months of 2024, Vietnam’s textile and garment exports reached $23.9 billion, a 6% increase compared to the same period last year, corresponding to a net increase of $1.33 billion.

Of this, fiber and yarn exports reached $2.53 billion (+4%); textile and garment exports reached $20.2 billion (+6%); fabric and technical textiles amounted to $458 million (+18%); and textile, garment, leather, and footwear accessories reached $878 million (+11%).

In July, Vietnam's textile and garment export value reached its highest level since August 2022.

Currently, Vietnam exports textiles and garments to 113 countries and territories, with key export markets being the U.S., EU, Japan, South Korea, and China. Despite these positive results, the Vietnam Textile and Apparel Association (VITAS) has assessed that the current global economic volatility will impact export industries, including the textile and garment sector.

At the July Trade Promotion Conference of the Ministry of Industry and Trade, a representative from VITAS requested that Vietnam’s Trade Offices abroad, especially in major export markets, closely monitor and provide early warnings to help domestic businesses develop measures to respond.

The period from now until the end of the year is considered the peak shopping season, and textile and garment enterprises are making efforts to introduce new products in terms of materials and designs that meet the stringent standards of their partners, aiming to reach the industry’s 2024 export target of $44 billion.