According to data released by the Vietnam Textile and Apparel Association (VITAS), the country’s textile exports reached nearly $4.3 billion in August 2024, bringing the total export value for the first eight months of the year to $28.3 billion, a year-on-year increase of 6.2%. As global market demand shifts, Vietnam’s textile industry is seizing opportunities, achieving steady export growth, and laying a foundation for long-term development.
Steady Growth in Textile Exports
VITAS data shows a robust growth trajectory for Vietnam’s textile exports in the first eight months of 2024. Exports of garment accessories reached nearly $900 million, reflecting a nearly 10% year-on-year increase, while exports of nonwoven fabrics grew by nearly 19% to $528 million. Overall, the export growth rate of Vietnam’s textiles ranged between 4% and 14%, with some categories exceeding a 20% increase.
This impressive export performance has been partially driven by international developments such as the U.S.-China trade war, military conflicts in Europe, and internal unrest in Bangladesh. These external factors have led to a shift in orders to Vietnam, positioning the country as a key player in the global textile supply chain.
New Opportunities Amid Global Market Changes
Vu Duc Giang, Chairman of VITAS, highlighted that the Vietnamese textile and garment industry is currently facing rare growth opportunities, enabling the country to further elevate its position in the global market. He emphasized that the industry’s long-term strategy is to diversify products to meet a broader range of customer needs and further expand export markets.
With the evolving international landscape, new orders and partnerships have also placed greater demands on Vietnam’s textile and apparel industry. Vietnamese companies must not only navigate complex procurement strategies but also optimize production processes to meet international market demands.
Technology and AI Driving Industry Transformation
At the seminar titled “Promoting Apparel Production through AI Applications and Smart Manufacturing” held at the end of August 2024, the focus was on the digital transformation of Vietnam’s textile industry. Jimmy Qiu, Vice Chairman of Jack Technology Co., Ltd., pointed out that Vietnam’s rapid development and growing importance in the global textile supply chain have become increasingly evident. Over the past three years, many international buyers, particularly U.S. textile brands and distributors, have shifted their orders from China to Southeast Asia. Vietnam, with its proactive transformation, application of intelligent technologies, and green manufacturing initiatives, has emerged as the top choice for suppliers.
Vu Duc Giang emphasized that Vietnam’s textile and apparel industry should fully leverage technology and artificial intelligence to enhance productivity and product quality. He noted that the global textile and apparel supply chain is in a transitional phase, and Vietnam should seize this opportunity by integrating raw materials, machinery, design, and trade processes to better coordinate orders, improving industry efficiency and international competitiveness.
Technological Innovation and Green Transformation
Phan Van Viet, Vice Chairman of the Ho Chi Minh City Association of Garments, Embroidery, and Knitting and Chairman of Viet Thang Jean Co., Ltd., highlighted that the digital transformation of the textile and apparel industry is an inevitable trend. By incorporating scientific technology into production processes, Vietnam’s textile sector is expected to increase efficiency and meet international demand for green and eco-friendly products.
Additionally, Phan Van Viet stressed that the key to promoting the sustainable development of Vietnam’s textile industry lies in supporting businesses in achieving green transformation, updating technologies, and nurturing design talent. These efforts will not only enhance the competitiveness of Vietnam’s textile industry but also help to shape the national brand image in the global textile market.
Developing the Fashion Industry’s Future Path
Vietnam’s textile and apparel industry is pushing for long-term development through a series of policies and measures. Vu Duc Giang noted that beyond the intelligentization of production processes and technological upgrades, the industry must also focus on enhancing media impact, building brands, and fostering design talent to boost global competitiveness.
Specifically, supporting businesses in green transformation, promoting energy-saving and environmentally-friendly production models, and applying innovative technologies will be key strategies for the long-term development of Vietnam’s textile and apparel industry. Additionally, the government and industry associations should establish development policies for the fashion industry to ensure that Vietnamese companies secure more favorable positions on the global stage.
Key Takeaways:
Strong Growth in Textile Exports: In the first eight months of 2024, Vietnam’s textile exports grew by 6.2% year-on-year, with significant increases in garment accessories and nonwoven fabrics exports.
Order Shifts Driven by Global Conditions: The U.S.-China trade war, military conflicts in Europe, and internal issues in Bangladesh have led to a shift in orders to Vietnam, contributing significantly to the country’s textile export growth.
Smart Technology and Green Transformation: Vietnam’s textile industry is actively driving innovation through technology and intelligent production to improve efficiency and product quality, meeting global market demands.
Brand Building and Talent Development Are Essential: The future growth of Vietnam’s textile sector not only depends on technological advancements but also requires a focus on brand building and nurturing design talent to maintain a competitive edge in the global market.
Green Transformation Is an Inevitable Trend: The move towards green transformation in the textile industry is crucial for future development, with Vietnamese enterprises needing to adopt energy-saving and eco-friendly measures to meet the new requirements of the international market.
Through technological innovations and sustainable initiatives, Vietnam’s textile industry is poised to strengthen its position in the global market, injecting new momentum for long-term development.
