Textile and garment accelerates to achieve export target of 44 billion USD

Textile and garment accelerates to achieve export target of 44 billion USD

Accordingly, domestic textile and garment production is maintaining stable growth with the textile production index in September increasing by 0.1% from the previous month and rising by 11.2% over the same period last year. In the first nine months, the textile index increased by 12.8% over the same period in 2023.

According to the General Department of Customs, textile and garment export turnover in September reached 2.98 billion USD, up 16% over the same period last year. In the past nine months, the export turnover reached 27.34 billion USD, up 8.9%.

In addition, import turnover of textile and garment materials reached an impressive level, increasing by 14.71% over the same period and exceeding 20.38 billion USD in the nine months, showing that the industry’s production demand is still very large.

In addition to consolidating traditional markets, the Vietnamese textile and garment industry is actively exploiting new markets such as ASEAN, Russia and Canada. With abundant orders and the recovery of major markets, the industry is expected to continue to grow strongly in the last months of 2024 and early 2025.

The Ministry of Industry and Trade said that the favorable macroeconomic situation, the reduction of inventories of fashion brands and loose monetary policies are creating strong growth momentum for textile and garment orders in the last months of the year and opening up a positive outlook for 2025.

With positive signals from the market, the industry is aiming for an export target of 44 billion USD. However, challenges such as fluctuating demand and rising costs remain barriers that domestic enterprises need to overcome./.