Prospects for the world’s textile and garment industry are expected to be brighter in 2022

Prospects for the world’s textile and garment industry are expected to be brighter in 2022 and Vietnam continues to maintain its position as a leading textile and garment exporter in US and EU markets.

Figures from the General Department of Customs showed that in the first quarter of 2022, the country’s export value of textiles and garments reached $8.68 billion, up 20.3% year-on-year, marking the highest increase in the past 10 years.

The US continues to be the largest textile and garment import market from Vietnam with a value of US$4.3 billion, followed by the EU with US$896 million, and Korea with US$754 million.

The positive signal of the market and the initial control of the COVID-19 pandemic will help Vietnam's textile and garment industry fulfill its set export target of over US$43 billion by 2022, according to Vietnam Textile and Apparel Association.