The country earned $36.11 billion from garment and textile exports over the first 10 months of the year—a 9.86 per cent increase year on year (YoY), according to VITAS.
Vietnam’s garment firms are optimistic about the year-end shopping season despite challenges, and hope it would offer them enough scope to meet the annual export earnings target.
The Vietnam Textile and Apparel Association expects textile-garment exports to hit $44 billion this year.
Vietnam’s garment industry still faces significant competitive pressures while exporting to the CPTPP markets.
October alone witnessed such earnings rise by 10.7 per cent month on month (MoM) and 24.26 per cent year on year (YoY) to $3.86 billion.
Experts attribute the high growth to a shift in orders from Bangladesh, China and Myanmar to Vietnam, decreasing inventory in key markets such as the United States, Europe and Japan, and an upward trend in consumer demand and orders from partners, a Vietnamese media outlet reported.
The ongoing decline in freight rates is supporting export growth as well and easing interest rates in the United States and Europe is expected to stimulate year-end shopping demand.
The holiday season, including Black Friday, Christmas and New Year, typically boosts demand for textile products, driving revenue growth for export companies.
Many Vietnamese garment companies have already secured orders for the second and third quarters of 2025.
VITAS chairman Vu Duc Giang feels there is potential in the markets of the Association of Southeast Asian Nations region, Russia and Canada for Vietnamese businesses to raise sales.
But challenges do exist as Vietnam’s garment industry still faces significant competitive pressures while exporting to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) markets.
Some countries benefit from tariff preferences as developing economies, while Vietnam has higher labour costs and pressures related to social insurance, health care and the need to fully implement commitments under new-generation free trade agreements.
Fibre2Fashion News Desk (DS)
