INSIGHTS

• Vietnam's textile-garment products have been exported to a record 104 countries and territories this year, with the United States remaining the biggest importer with a turnover of over $11 billion by the end of September, according to the Vietnam Textile and Apparel Association.
• Japan ranked second, followed by the EU, South Korea, Canada and China.

Vietnam's textile-garment products have been exported to a record 104 countries and territories this year, with the United States remaining the biggest importer with a turnover of over $11 billion by the end of September, according to Vietnam Textile and Apparel Association (VITAS) chairman Vu Duc Giang.

Japan ($3 billion) ranked second, followed by the European Union ($2.9 billion), South Korea ($2.43 billion), Canada ($850 million) and China ($830 million).

Businesses made efforts to diversify export products with 36 items. Jackets remained the top export earner during the period by earning more than $4.38 billion. Those were followed by trousers (over $3.85 billion) and shirts ($1.87 billion).

Diversifying markets, products, customers and partners is a step towards reducing Vietnam's reliance on large markets, Giang noted.

The total export value of the country’s textile-garment industry in 2022 had surpassed $44 billion, but this year it is expected to fall by more than 9 per cent to over $40 billion. The estimate is still encouraging keeping in view the global challenges exporters faced this year, according to a news agency report.