Mr. Vu Duc Giang - Chairman of Vietnam Textile and Apparel Association said: 10 months of 2022, Vietnam's textile and garment industry achieved 37.9 billion USD in export turnover, up 17.2% over the same period; exported to 66 countries and territories with 47-50 different items.

Regarding the export market, the US still accounts for the largest proportion with 42%, followed by China 11%, Japan and South Korea accounted for 9%, the ASEAN market accounted for 6%, Russia 1% and the rest. other markets.

Clothing and garments of all kinds are still items that account for a large proportion of the industry's total export turnover, up to 29.1 billion USD. The main export market is the US with 13.9 billion USD; countries in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (TPP) $ 4.733 billion; EU countries 3.63 billion USD; Korea 2.525 billion USD; China $925 million.

In 10 months, textile and garment exports grew by 17.2%

In addition to clothes, Vietnam 's textile and garment industry also exports fabric with $ 2.13 billion, fibers $ 4.083 billion, sewing accessories $ 1.165 billion, local fabric $ 747 million.

" The results achieved so far are a great effort of the Vietnamese textile and garment industry, especially in the context of the world consumer market slowing down in the last quarter of 2022 ," said Mr. Vu Duc Giang. .

He also said that there are many factors that help Vietnam's textile and garment industry overcome challenges and achieve positive results. The first is the impact of the country's opening process with effective free trade agreements, which is the foundation for businesses to diversify markets.

The context of deflation, the devaluation of currencies and the decrease in purchasing power of major countries are big shocks that force businesses to find their own way to promote new markets. Along with that, the process of product transformation, promoting digital governance, catching up with the circular economy, skilled and stable workers and complying with the rules of the game with importers are also factors that help textiles and garments. Vietnam successfully overcome difficulties.

Regarding the pressure in the remaining months of 2022 and early 2023, the Chairman of the Vietnam Textile and Apparel Association said that it is still quite heavy: According to the association's calculations, the average order of enterprises has decreased from 25 -27%. Enterprises manufacturing outsourcing and manufacturing low-cost goods are the hardest hit, even having to work for free. Although FOB and ODM businesses are affected by exchange rate fluctuations, they have to spend foreign currency to buy raw materials for production. In return, businesses can take the initiative in orders and proactively get customers. “ The proportion of outsourcing in the textile industry is still very low. In 2022, 17-18% will be accelerated conversion in 2023 ”, Mr. Vu Duc Giang informed.

Before the phenomenon of workers being laid off was reflected by the media recently, with the textile and garment industry, leaders of the Vietnam Textile and Apparel Association confirmed that there is but the proportion is low, only about 5-7%. Domestic textile enterprises are in many ways to maintain production activities, maintain jobs and income for workers. Some enterprises have had to convert production products with low productivity in order to keep labor stable and welcome the market's recovery, which is forecasted in the third and fourth quarters of 2023.

Regarding the domestic market, 10 months' domestic revenue of the industry reached 4.8 billion USD, the whole year target is 5.8 - 6 billion USD. The strong development of e-commerce has contributed significantly to enterprises to develop the domestic market. If in 2021, the rate of textile and garment enterprises selling through e-commerce is only about 7-8%, this year has increased to 18-20%. " For the Yody brand alone, revenue from e-commerce has accounted for 50% ," said Mr. Vu Duc Giang.

Worth mentioning, not only for the domestic market, business through the Internet environment is also thoroughly applied by importers. Most of the big brands still come up with ideas, exchange ideas with Vietnamese businesses through the online environment for businesses to design, bid, and even have brands that have not yet arrived in Vietnam.