In 2018 the total export turnover of Vietnam’s textile and garment industry was up 16 per cent year on year.
With the results achieved in 2018, Vietnamese textile firms have witnessed positive signals for orders in 2019. Many businesses have already received orders for the first six months of 2019 and even the whole year.

The upcoming enforcement of new generation free trade agreements is a positive factor supporting production and business activities of the sector in 2019.

In 2019, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is hoped to create a boost for many industries of Vietnam, including the textile and garment sector. In addition, the textile and garment sector is also waiting for more orders shifted from China to Vietnam due to the US-China trade war.

Domestic enterprises will be enabled to choose orders with highs prices and easier requirements when orders are moved from China to Vietnam. In order to catch up with these opportunities, local businesses need to gradually improve technologies and invest more in new technologies.

The targeted export turnover for 2019 is 10.8 per cent higher compared to 2018. The sector is expected to enjoy a trade surplus of 20 billion dollars and create employment and increase income for 2.85 million workers.