According to Vietnam’s Aurora Textile Industrial Park, the world’s textile and garment industry is expected to be brighter in 2022, so Vietnam continues to maintain its position as a leading textile and garment exporter in US and European Union (EU) markets.
In the first quarter of 2022, the country’s export value of textiles and garments reached $8.68 billion, up by 20.3 percent year on year, marking the highest increase in the past 10 years.
Meanwhile, The United States continues to be the largest textile and garment import market from Vietnam with a value of $4.3 billion, followed by the EU with $896 million and Korea with $754 million.
As the Covid situation is positive now, so it will help Vietnam’s textile and garment industry fulfill its set export target of over $43 billion by 2022.
The Aurora Textile Industrial Park said, “Vietnam have the opportunities to catch up from the trend of shifting the world’s textile and garment supply out of China and Vietnam is one of the most potential and favorable destinations for manufacturers, import and export distributors, wholesalers and retailers worldwide.”
To maintain the leading position and tap up opportunities post COVID-19, textile enterprises are accelerating to upgrade technology in production chains as well as increase labor productivity.
Aurora is one of the very few industrial parks in Vietnam that meets the legal and utility infrastructure requirements qualified to accommodate fabric-dyeing establishments, the press release added.