Apparel / Textiles & Accessories

According to customs data, Vietnam's textile, clothing and footwear exports totaled 71 billion US dollars in 2022, a record high. Customs data showed that the export volume of textile and clothing reached 44 billion US dollars, up 8.8% year on year; The export value of footwear and handbags reached 27 billion US dollars, up 30% year on year.

Representatives of Vietnam Textile Association (VITAS) and Vietnam Leather, Footwear and Handbag Association (LEFASO) said that Vietnam's textile, clothing and footwear enterprises are facing huge pressure brought by global economic recession and global inflation, and the market demand for textiles, clothing and footwear is falling, so 2022 is a challenging year for the industry. Especially in the second half of the year, economic difficulties and inflation affected global purchasing power, leading to a decline in corporate orders. However, the textile, clothing and footwear industry still achieved double-digit growth.

The representatives of VITAS and LEFASO also said that Vietnam's textile, clothing and footwear industry has a certain position in the global market. Despite the global economic recession and the reduction of orders, Vietnam still wins the trust of international importers.

Customs data show that the production, operation and export targets of these two industries have been achieved in 2022, but this does not guarantee that they will maintain the growth momentum in 2023, because many objective factors have a negative impact on the development of this industry.

According to customs data, in 2023, Vietnam's textile and clothing industry proposed the goal of reaching a total export value of US $460-47 billion by 2023, while the footwear industry strives to reach US $270-28 billion.