Out of a total of $17.875 billion in exports in the first half of this year, more than half of Vietnam’s clothing went to the US. An examination of export statistics revealed that the nation shipped almost 78% of its clothing to Japan, South Korea, China, and Canada. The country’s second-largest market was Japan.
According to market statistics from Fibre2Fashion’s market analysis tool TexPro, Vietnam’s garment exports to the US were valued at $9.094 billion in January–June 2022, which was 50.88 percent of its overall exports of $17.875 billion during the same period.
In the time period under review, exports to Japan totaled $1.635 billion (9.15%), South Korea $1.556 billion (8.71%), China $793.371 million (4.44%), and Canada $732.067 million (4.10%). With exports of more than 1% each, Germany, UK, France, Netherlands, Australia, Belgium, and Switzerland were the other markets for Vietnam.
Last year, by a wide margin, the US was the biggest importer of Vietnamese clothing. According to TexPro, Vietnam sold clothing worth $14.284 billion in 2021, or 45.78% of its $31.201 billion in total exports. In 2021, the exports to Japan were worth $3.450 billion (11.06%), South Korea was worth $3.294 billion (10.56%), China was worth $1.734 billion (5.56%), and Canada was worth $1.199 billion (3.84%).
