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Export earnings fall by 16% in Vietnam in January-June 2023

BTJ Desk Report
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Export earnings fall by 16% in Vietnam in January-June 2023

Textile and Garment exports witnessed a decline of 15.5% from January to June 2023 for Vietnam. Their total export reached 15.73 billion USD in this period according to customs and statistics department of Vietnam. Though in contrast, 5% increase of export in June 2023 from the previous month of May.

USA alone accounted for about 45% of Vietnam’s export of RMG and textile totaling 7 billion USD. Japan and South Korea imported 1.75 billion USD and 1.4 billion USD respectively from Vietnam in the mentioned period.

In 2022, Vietnam saw their export of RMG grew 14.7% year on year, reaching 37.5 billion USD, a little behind their yearly target of 43 billion USD. In 2023, the country set up a target of their textile and RMG export as 48 billion USD.

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