Vietnam’s “Youth Daily” reported that Nguyen Thi Xuemei, vice chairman of the Vietnam Textile and Garment Association, said that the World Trade Organization (WTO) recently announced that in 2020, Vietnam surpassed Bangladesh to become the world’s second largest textile and apparel exporter with US$29 billion. country (second only to China). According to Chinese customs data, in 2020, China’s textile and apparel exports totaled US$291.22 billion, a year-on-year increase of 9.6%.
Nguyen Thi Xuemoi said that although Bangladesh has advantages such as low labor costs and the ability to accept large quantities of low-price orders, the outbreak of the new crown pneumonia epidemic has forced global orderers to re- Orders are distributed to many countries, including Vietnam.
In addition to the basically stable epidemic situation in 2020, Vietnam’s textile and apparel industry has also shared the dividends brought by participating in multiple free trade agreements, so its global market share has increased from 2.9% in 2010. increased to 6.4% in 2020.
According to Vietnam’s “Vietnam+” report on August 2, the Industrial and Trade Information Center of the Ministry of Industry and Trade announced that in the first half of 2021, the export value of Vietnam’s textile and garment industry reached 191.8 billion, a year-on-year increase of 21% and a year-on-year increase of 4.25%. However, the COVID-19 epidemic continues to be complex and unpredictable, requiring textile companies to take corresponding measures to effectively prevent the epidemic while maintaining stable production and preparing to promote exports.
The Industry and Trade Information Center of the Ministry of Industry and Trade stated that the COVID-19 epidemic caused Vietnam’s textile and apparel exports to slow down in 2020, but recovered quickly from the last few months of 2020 and will continue to grow in 2021. Strong growth in the first six months.
The Ministry of Industry and Trade stated that in the 2016-2020 period, the competitiveness of Vietnam’s textile and apparel industry has continued to improve. While textile and apparel exports in the global market dropped by an average of 0.26% annually, Vietnam’s textile and apparel exports still achieved an average annual growth of 6.13% during this period.
In 2020, Vietnam’s textile and clothing export proportion was 7.05%, higher than 5.54% in 2016. It is the fourth largest textile and clothing exporter in the world, second only to China, the European Union and Bangladesh. At the same time, China’s textile and apparel market share continued to shrink from 34.31% in 2016 to 29.45% in 2020.
Vietnamese textile and clothing products are sold to more than 200 countries and regions around the world, a significant increase from 150 in 2016. Currently, Vietnam’s textile and apparel industry is working hard to achieve breakthroughs in other markets such as China, Russia, Cambodia, Indonesia, and Thailand.
The Ministry of Industry and Trade stated that many supply markets such as Bangladesh and Turkey that are competitive with Vietnam also have internal problems in their textile and garment industries and are unable to achieve breakthroughs and directly compete with Vietnam. compete.
In the next period of time, due to the trend of export diversion due to the tense trade relations between the United States and China, deep participation in new generation free trade agreements such as CPTPP, EVFTA and the upcoming RCEP will help Vietnam’s textile and apparel development. Exports create opportunities.
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