As the world’s second-largest garment-textile exporter, Vietnam is embracing sustainability and innovation to strengthen its global position.

The recovery of Vietnam’s garment-textile sector remains on track and is expected to make breakthroughs in the time ahead, insiders have said.

The total export turnover of agricultural, forestry, and fisheries products in the first three months of 2024 is estimated to reach 13.53 billion USD, an increase of 21.8% compared to the same period of 2023.

In the first two months of 2024, four commodities of Vietnam posted export value of over 5 billion USD, accounting for over 52% of the country's total export turnover, according to the General Statistics Office of Vietnam.

In the first 11 months of 2023, seven commodities of Vietnam posted export value of over 10 billion USD, accounting for over 60% of the country's total export turnover.

A series of international trade fairs in the garment-textile and footwear sectors kicked off at the Saigon Exhibition and Convention Centre in Ho Chi Minh City on October 25.

A series of international trade fairs in the garment-textile and footwear sectors kicked off at the Saigon Exhibition and Convention Centre in Ho Chi Minh City on October 25.

German news website NTV has published an article highlighting the attractiveness of the Southeast Asian country to German businesses.

Hanoi’s firms operating in the supporting industry are developing strongly, reflected through the continuous increases in the number of businesses, their scale and quality. However, according to economists, the capital city still needs specific policies to make the sector grow further.

Experts have advised Vietnamese textile-garment and leather-footwear firms to improve the sustainability of their production for export to the European Union (EU) after the European Commission (EC) proposed the goods must comply with ecological design criteria.

Vietnam expects to earn 45.7 billion USD from garment-textile exports this year amid good results recorded since the beginning of this year and positive market developments.

The consumer price index (CPI) in June increased by 0.69% from the previous month, according to the General Statistics Office.

Hanoi enjoyed a surge in exports-imports in the first five months of this year, signalling the capital city’s strong economic recovery, according to the municipal Statistics Office.

Overcoming a series of difficulties caused by the COVID-19 pandemic, the garment and textile industry is now employing some 2.5 million workers, while generating 40 billion USD worth of export and a trade surplus of nearly 20 billion USD.

Vietnam’s garment-textile and footwear have borne the brunt of COVID-19 and firms in the sectors may take a long time to recover, experts said.

Vietnam's garment-textile sector is expected to earn 39 billion USD in export value in 2021.

The UK-Vietnam Free Trade Agreement (UKVFTA), expected to come into force in the beginning of 2021, is promising several export opportunities to the European market for Vietnamese garment-textile and footwear enterprises.

Vietnam has been always very good at taking advantage of crisis to accelerate reforms and move faster and grow better, Jacques Morisset, World Bank Lead Economist and Programme Leader for Vietnam, has said.

Cambodia’s annual 7-billion-USD garment and textile sector is expected to suffer losses from the European Union (EU)’s partial withdrawal of the tariff preferences granted to the Southeast Asian country under the Everything But Arms (EBA) trade agreement from August 12.

During the first half of 2020, Vietnam reposted 22 commodities with export turnover of over 1 billion USD, making up 86.2 percent of the total, according to the Ministry of Industry and Trade.