Vietnam's textile & garment exports up 18.9% in Jan-Nov 2022
Dec 28, 2022 ｜ by Zhong Mengxia
Vietnam earned $34.645 billion from textile and garment exports in the first eleven months of 2022, an increase of 18.9 per cent over the same period of last year, as per preliminary data from customs IT and statistics department, general department of customs, Vietnam’s ministry of finance. The exports growth was 7 per cent month on month in November 2022.
The US accounted for a major share (about 46.18 per cent) totalling $16.092 billion in the textile and garment exports of Vietnam during the period under review. Japan and South Korea were the other major destinations with exports of $3.693 billion and $3.051 billion, respectively, according to the latest figures.
Vietnam’s yarn exports, however, decreased by 13.6 per cent to $4.388 billion compared to the same period of last year. Of this, China imported around 46.44 per cent or $2.038 billion worth of yarn, followed by India that imported yarn worth $112.205 million. In volume terms, Vietnam exported 14,40,484 tons of yarn which was 18.6 per cent lower than the exports during the corresponding period of last year.
Vietnam’s yarn exports, however, decreased by 13.6 per cent to $4.388 billion compared to the same period of last year. Of this, China imported around 46.44 per cent or $2.038 billion worth of yarn, followed by India that imported yarn worth $112.205 million. In volume terms, Vietnam exported 14,40,484 tons of yarn which was 18.6 per cent lower than the exports during the corresponding period of last year.
Vietnam’s exports of textiles and garment went up 7 per cent in November 2022 compared to the previous month. The exports noted a dip in the last two months. Overall, a tough time for exports continued but the shipment grew in November month on month due to fall in previous months.
In 2021, Vietnam’s textile and garment exports earned $32.750 billion, registering a growth of 9.9 per cent over the exports of $29.809 billion in the previous year, while yarn exports increased by 50.1 per cent to $5.609 billion from $3.736 billion in 2020.
For 2022, Vietnam has set a target of $43 billion for its textiles, garments, and yarn exports, according to the Vietnam Textile and Apparel Association (VITAS).
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