Vietnam’s Textile & Apparel Exports Up 15% In Jan-Feb 2024
Vietnamese exports of textiles and garments totaled US $5.2 billion in the first two months of the ongoing year, which is an increase of 15 percent over the same period last year.
According to a Vietnamese expert, the growth has been achieved due to the momentum in orders from key export markets since December 2023.
The expert also added that several garment exporters now have export orders in hand till the second quarter of the ongoing year.
In terms of volume, the orders are not as much as in the first quarter of 2022, but are double as against those in the same period of 2023.
‘Order prices are still quite low, but exporter’s just want to run their factories and so are accepting orders at low prices and also to retain customers,” the expert added.
At the same time, there are clothing exporters like TNG Investment and Trading which is planning to increase capacity by 15 percent by starting 45 more sewing lines and recruiting 3,000 more workers.
The expert avers that hopefully from the second quarter of 2024 the order situation will be better as many large buyers are planning to move out of China and Vietnam can be an alternate destination.
