An official has advised businesses to adopt green practices to secure sustainable growth in textile and garment export to Canada, where Vietnam ranks second among the exporters of such products.
Vietnam's textile and garment export value reached US$35 billion in the first nine months of 2022, up 21% over the same period last year.
VOV.VN - Vietnamese textile and garment exports surged by 24.3% to over US$26 billion during the first eight months of the year, with the export value of the products reaching US$4 billion for the first time in August alone, according to data given by the General Department of Vietnam Customs.
VOV.VN - Vietnam produced a trade surplus of US$3.96 billion during the first eight months of the year to gradually regain its pre-pandemic growth.
Vietnam has surpassed the Republic of Korea to become the world’s sixth largest fibre and yarn exporter after shipping abroad US$2.37 billion worth of these items in the first five months of 2022.
Although textile export was riding high in the first half of the year with a growth of 23%, insiders are pessimistic that the rest of 2022 will not match up.
Textile and garment export turnover in the first six months of 2022 is estimated to increase 23% on-year to about US$22 billion, reaching the highest level ever, according to the Vietnam Textile and Apparel Association.
VOV.VN - Vietnam’s garment exports to major markets such as the United States, the European Union and the Republic of Korea soared considerably in the first four months of the year thanks to high demand fueled by the global economic recovery and incentives from free trade agreements.
Vietnamese producers have been put under pressure because of the complex developments of the pandemic, but, in risks, opportunities always exist.
Vietnam overtook Bangladesh as the world’s second largest exporter of ready-made garments (RMG), with a turnover of US$29.8 billion, according to the World Trade Organisation.