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.

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.

Vietnam’s garment-textile exports are likely to encounter a host of challenges in terms of both market and supply chain in the second half of this year despite positive results in the first half, heard a seminar in Ho Chi Minh City on June 21.

Although the demand for Vietnamese textiles is forecast to rise steadily in the short term, firms are concerned that tight material supply will impede their export plans.

Vietnam’s garment-textile export turnover hit nearly US$19 billion in the first six months of 2021, up more than 20% year-on-year.

The target of Vietnam earning US$39 billion from garment and textile exports in 2021 is perfectly feasible, Vu Duc Giang, Chairman of the Vietnam Textile and Apparel Association (VITAS), has said.

Vietnam’s garment-textile sector sets a target of US$39 billion in export revenue this year, equal to that of 2019, according to the Vietnam National Textile and Garment Group (Vinatex).

Vietnam’s garment-textile export turnover is projected at US$38-39 billion in 2021, Le Tien Truong, Chairman of the Vietnam National Textile and Garment Group (Vinatex) said on December 29.