Vietnam’s garment-textile, footwear sectors obtain good growth rates

SGGP
According to the latest statistics of the Ministry of Industry and Trade, by the end of January, the production index of textiles and garments increased by 16.6 percent and 9.9 percent respectively compared to the same period in 2020.

Vietnam’s garment-textile, footwear sectors obtain good growth rates

Particularly, production of textiles from synthetic and artificial fibers reached at 92.4 million square meters, an increase of 20.4 percent. Meanwhile, garment production was estimated to reach 380.1 million pieces, up 9.3 percent over the same period in 2020.

The export turnover of textiles and garments in January was estimated at US$2.6 billion, up 3.3 percent.

As for the footwear sector, leather and related-products increased by 20.8 percent with footwear output hitting 21.9 million pairs in the first month of the year, up 3 percent over the same period last year.
Footwear export turnover was estimated at US$1.8 billion, up 26.4 percent over the same period in 2020.

According to analysis from the Ministry of Industry and Trade, due to the Covid-19 pandemic, supply chains are being re-established creating new opportunities for Vietnamese footwear enterprises to integrate in the global supply chain. Especially, FDI enterprises will continue to invest in and expand their production activities, helping the Vietnam’s footwear industry maintain export growth momentum in the upcoming time.

By Lac Phong- Translated by Huyen Huong

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