Vietnam'S Textile, Clothing And Footwear Exports Will Reach 71 Billion US Dollars In 2022

On January 18, the Communist Party of Vietnam Electronic News reported that Vietnam's textile, clothing and footwear exports in 2022 totaled $71 billion, the highest level in history. The export volume of textile and clothing reached 44 billion US dollars, up 8.8% year on year; The export volume of shoes and handbags reached 27 billion US dollars, up 30% year on year.

Representatives of the Vietnam Textile Association (VITAS) and the Vietnam Leather, Shoes and Handbags Association (LEFASO) said that Vietnamese textile, clothing and footwear enterprises are facing great pressure from the global economic recession and global inflation, and the market demand for textiles, clothing and shoes has declined, so 2022 is a challenging year for the industry. Especially in the second half of the year, economic difficulties and inflation affected global purchasing power, leading to a decline in corporate orders. However, the textile, clothing and footwear industry still achieved double-digit growth.

Representatives of VITAS and LEFASO also said that Vietnam's textile, clothing and footwear industry has a certain position in the global market. Despite the global economic recession and the reduction of orders, Vietnam still wins the trust of international importers.

The production, operation and export targets of these two industries have been achieved in 2022, but this cannot guarantee that they will still maintain the growth momentum in 2023, because many objective factors will have adverse effects on the development of this industry.

In 2023, Vietnam's textile and clothing industry proposed the goal of total exports of $46 billion to $47 billion in 2023, while the footwear industry strives to achieve exports of $270 billion to $28 billion.