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Vietnam’s garment exports jump by 20% in Jan-Jul period of 2022

BTJ Desk Report
Vietnam's garment exports jump by 20% in Jan-Jul period of 2022

The export of garments from Vietnam jumped by 20% to $22.1 billion in the first seven months, January to July, of the current calendar year of 2022, said General Statistics Office (GSO).

According to the media reports, exports of the country rose by 16.1% year-on-year (YoY) to $216.35 billion and imports increased by 13.6% to $215.59 billion between January and July this year.

Among them, garment and footwear exports jumped by nearly 20% each to $22.1 billion and $14.1 billion respectively in the period, the GSO data said.

According to the data, the United States continued to be the biggest export market of Vietnam, followed by China, which was its top trading partner with two-way turnover of $103.1 billion.

Exports to other markets also registered a growth of 13%-27% but the trade surplus is low and not very likely to be sustained, GSO cautioned.

Many new markets that signed free trade agreements (FTAs) with Vietnam in America such as Canada and Mexico have also increased imports from the Southeast Asian nation.

In January-July, Vietnam’s export turnover to Canada and Mexico hit $3.23 billion and $2.4 billion, up by 31.5% and 14.2% YoY, respectively.


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