Vietnam earned $26.284 billion from textile and garment exports in the first eight months (January-August) of 2022, fetching a growth of 24.3% over the same period of last year, as per preliminary data from the customs IT and statistics department, general department of customs, Vietnam’s ministry of finance.
Yarn exports were $3.452 billion in the same period of this year.
According to the latest figures, the US accounted for a major share (about 46%) totaling $12.881 billion in textile and garment exports from Vietnam during the period under review.
Japan and South Korea were the other major destinations with exports of $2.536 billion and $2.143 billion, respectively.
Vietnam’s yarn exports, however, decreased by 5.3% to $3.452 billion compared to the same period of last year.
Of this, China imported around 46.49% or $1.605 billion worth of yarn, followed by India that imported yarn worth $87.993 million.
In volume terms, Vietnam exported 1,088,677 tons of yarn which were 17.4% lower than the exports during the corresponding period of last year.
In 2021, Vietnam’s textile and garment exports earned $32.750 billion, registering a growth of 9.9% over the exports of $29.809 billion in the previous year, while yarn exports increased by 50.1% to $5.609 billion from $3.736 billion in 2020.
By 2022, Vietnam has set a target of $43 billion for its textiles, garments, and yarn exports, according to the Vietnam Textile and Apparel Association (VITAS).