Vietnam'S Textile And Garment Industry Is Developing Like "Tiger", Increasing Overseas Demand.

Vietnam's garment industry is developing rapidly.

Only in China.

Last year, Vietnam's clothing exports to Europe, the United States, Japan and South Korea increased by 17%, 12.5%, 9% and 27% respectively.

Vietnam's clothing industry has been the focus of development in recent years, especially in export clothing. Overseas demand is increasing. Moreover, as an underdeveloped country, Vietnam can get export treatment for tax exemption or tax reduction, and its price advantage is strong.

Nguyen Van Tuan, chairman of Vietnam's cotton and Textile Association (VCOSA), said that by 2030, the scale of clothing production in Asia will expand by 2.4%, accounting for 60% of global clothing production.

According to introduction, nine years after joining WTO,

The share of the US market has increased from 3% to 10%, second only to China.

Last year, Vietnam's clothing exports to Europe, the United States, Japan and South Korea increased by 17%, 12.5%, 9% and 27% respectively.

In the first 9 months of Vietnam, the export of textiles and garments increased by 10.6%, and the amount of handbags, suitcases, hats and umbrellas increased by 2 billion 200 million, an increase of 15.6% over the previous 17 billion 100 million months.

According to statistics from the General Administration of statistics of Vietnam, the number of exports increased in the first 9 months of this year included: the sum of various telephone sets and their components was 23 billion 200 million US dollars, an increase of 34.3%;

The sum of garments was $17 billion 100 million, an increase of 10.6%; the sum of electronic products, computers and parts was 11 billion 400 million dollars, an increase of 52.8%; the amount of footwear was 8 billion 800 million dollars, an increase of 18.4%; the sum of other machinery and equipment and parts was 5 billion 800 million dollars, increasing by 9.8%; the sum of timber and wood products was 4 billion 900 million US dollars, increasing 9.1%; the amount of handbags, luggage, hats and umbrellas was 2 billion 200 million dollars, increasing the number of 2 billion 200 million; the cashew amount was USD, and the increase was.

According to statistics, Vietnam has signed FTA agreements with South Korea and Eurasian union this year, which shows Vietnam's ambitions to actively explore the international market.

It is expected that in the next 10 years, Vietnam's exports of clothing, textiles and shoes will increase by 50%, and the export of all kinds of aquatic products will also increase by 6.4%-7.2%, and the growth trend of other products will not be small.

At present, Vietnam's six largest trading partners are China, the United States, the European Union, South Korea, Japan and Thailand.

Among them, the United States and Japan are the top two trade partners of Vietnam in the TPP partner countries. China, Korea and Thailand are Vietnam's largest trading nations in RCEP. The EU is the largest trading partner outside the two regions. Vietnam's textile industry and footwear industry will be the most profitable industry in these trade.

Due to the need to comply with the rules of origin, after the formal implementation of these FTA, Vietnam's textile industry and footwear will face many challenges. Agriculture, especially animal husbandry, will also face fierce competition, and its domestic employment system will also face great international challenges.

Therefore, these newly signed rules will also push Vietnam's structural reform and reform of state-owned enterprises to a certain extent.

Obviously, driven by the strong FTA trend in Vietnam, it is gradually approaching the goal, plus Vietnam's ongoing domestic innovation measures, and it is expected that Vietnam will soon develop into a "tiger" in Southeast Asia.