Vietnam’s revenue from garment and textile exports increased 21.2 per cent year on year to about $15.2 billion during the first five months of 2021, reveal from Vietnam Textile and Apparel Association (VITAS). During January-May 2021, Vietnam’s fiber and yarn exports soared 60.1 per cent year-on-year to $2.1 billion while fabric exports increased 26.4 per cent to $947 million As per Vietnam Plus, the country’s garment and textile imports increased by 33.4 per cent to $10.2 billion during the period.

The Ministry of Industry and Trade attributed growth to positive signals from the country’s major export markets as well as domestic businesses’ effective utilization of opportunities from free trade agreements (FTAs) which have been signed and put in place. The US remained the largest importer of Vietnam’s garments and textiles with imports increasing 24.4 per cent to $6.02 billion and accounting for 49.2 per cent of the sector’s total revenue.

Japan was the second largest importer with imports worth $1.31 billion followed by the European Union with $1.21 billion worth of imports and the Republic of Korea with $1.07 billion imports.