Hanoi (VNA) – Vu Duc Giang, president of the Vietnam Textile and Apparel Association (VITAS), said at a press conference held on the morning of July 21 that despite many difficulties in the second half of the year, with the efforts of digital transformation, governance and greening , Vietnam’s textile and apparel industry is still aiming for an export volume of approximately US$20 billion to US$21 billion in the second half of 2022, and a target of US$42 billion to US$43 billion for the full year of 2022.
According to the Vietnam Textile and Apparel Association, 2022 will be the year when Vietnamese textile and apparel companies will gradually recover after two years of being severely affected by the new coronavirus epidemic.
In the first half of 2022, textile and clothing exports reached approximately US$22.3 billion, a year-on-year increase of 17.7%.
The main export commodities are clothing, with an export value of US$16.94 billion, a year-on-year increase of 19.5%; fabric exports reached US$1.4 billion, an increase of 20.8%; yarn exports reached US$2.76 billion, an increase of 4.4%; clothing accessories exports reached US$734 million, an increase of 22.3%; non-woven exports reached US$452 million, an increase of 25.5%.
In the first half of 2022, the total import volume of textile and clothing raw materials and accessories reached approximately US$13.4 billion, an increase of 9.8% compared with the same period in 2021. In the first half of this year, the textile and apparel industry achieved a trade surplus of US$8.86 billion, an increase of 32% from the first half of 2021. This is the effort made by Vietnamese textile and garment enterprises in the context of global economic difficulties.
Vu Duc Giang revealed that the development situation of Vietnam’s textile and apparel industry has been positive in the first half of this year, but the textile and apparel industry may face many difficulties and challenges caused by the new coronavirus epidemic.
Vietnam’s important trading partners, such as China, Japan, and Taiwan, are taking strict epidemic prevention measures, which has a negative impact on the supply of raw materials and product sales of Vietnam’s textiles and apparel. In addition, the high inflation rate in Vietnam’s major textile and apparel consumer markets such as the United States and Europe, as well as the conflict between Russia and Ukraine, which has kept the price of textile raw and auxiliary materials high since the beginning of the year, have also brought many difficulties to Vietnam’s textile and apparel industry.
Despite this, Wu Dejiang believes that in the second half of 2022, textile and clothing exports are expected to reach US$20 billion to US$21 billion, raising the annual textile and clothing export volume to the target of US$42 billion to US$43 billion.
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