In the first five months of 2021, the garment and textile sector’s export revenue increased by 21.2 percent year on year to almost 15.2 billion USD.
According to the association, fibre and yarn exports climbed by 60.1 percent year on year to 2.1 billion USD in January-May, while fabric exports increased by 26.4 percent to 947 million USD.
Vietnam spent more than 10.2 billion USD on importing supplies for the garment and textile industries during the period, up 33.4 percent over the same time in 2020.
Positive signals from the country’s major export markets, as well as domestic enterprises’ successful use of opportunities from signed and implemented free trade agreements (FTAs), according to the Ministry of Industry and Trade.
With a value of 6.02 billion USD, the United States remained the top importer of Vietnam’s garment and textile products, contributing for 49.2 percent of the sector’s total income, up 24.4 percent from the same period in 2020. With 1.31 billion USD (down 6.3 percent), Japan was the second largest customer, followed by the European Union with 1.21 billion USD (up 14.7 percent) and the Republic of Korea with 1.07 billion USD (up 4.25 percent).
