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Vietnam's textile exports fell for 2 consecutive months

November 03, 2021
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According to a report from Vietnam's "Customs Online" on October 28, Vietnam's textile exports in September 2021 were only 2.28 billion U.S. dollars, a decrease of 377 million U.S. dollars from August, and a decrease of 855 million U.S. dollars from July, which was the second consecutive month of decline.

At present, Vietnam's textile exports are showing a slight growth trend as a whole. In the first nine months of 2021, textile exports were US$23.41 billion, an increase of nearly US$1.23 billion or 5.6% over the same period last year. The main export markets are the United States, the European Union, and Japan. Among them, exports to the United States were 11.62 billion US dollars, an increase of 11.1%, exports to the EU were 2.75 billion US dollars, an increase of 2.4%, and exports to Japan were 2.28 billion US dollars, a decrease of 11.6%. The main export commodities are clothing, fabrics, fibers, non-woven fabrics, and textile accessories.

According to reports, Vietnam still relies heavily on imports for the raw and auxiliary materials used in textile production. According to statistics from Vietnam Customs, in the first nine months of 2021, imports of raw materials and accessories for the textile and leather shoe industries reached US$19.6 billion, an increase of US$4.2 billion over the same period last year, an increase of 26.9%. Among them, imports from China accounted for the largest share (52%), reaching 10.1 billion. U.S. dollars, an increase of 31% over the same period last year, followed by South Korea’s 1.86 billion U.S. dollars, Taiwan’s 1.83 billion U.S. dollars, and the U.S. 1.4 billion U.S. dollars

 

                                                                       Source: Ministry of Commerce website

 

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