Pay Attention To Vietnam Textile Association'S Formulation Of Textile Export In 2022

According to the report of Vietnam industry and trade daily on December 7, Vietnam Textile Association held an industry summary meeting on December 7 to analyze the textile import and export situation in 2021 and put forward the textile export target in 2022.

According to the report, in the first quarter of 2021, orders of textile enterprises have increased significantly, and some enterprises have signed order contracts at the end of the third quarter or even the end of the year at the beginning of the year; In the second quarter, the outbreak of the epidemic in the northern part of the country made enterprises in trouble; In the third quarter, the outbreak of the epidemic in Ho Chi Minh City and its spread in southern provinces and cities led to the closing of enterprises in the South and the decline of textile exports month by month; After the implementation of government resolution 128 in October, the production of enterprises began to recover, and the export growth was considerable.

According to the forecast of Vietnam Textile Association, Vietnam's textile export volume in 2021 will be about 39 billion US dollars, which is equivalent to that in 2019; Among them, the export volume of clothing was 28.9 billion US dollars, an increase of 4% over 2020; Yarn export volume was 5.5 billion US dollars, up 49% year on year, mainly exported to China market; In 2021, Vietnam's textile import volume is about 21.7 billion US dollars. In terms of market, the United States is still the largest textile export market of Vietnam, with an export volume of US $15.9 billion to the United States, an increase of 12% over 2020; Second, China's US $4.4 billion, the EU's US $3.7 billion and South Korea's US $3.6 billion. In terms of enterprise contribution rate, the contribution rate of foreign-funded enterprises in the total export volume of textile industry fluctuates between 59-61%. Compared with the 70% contribution rate of foreign-funded enterprises in Vietnam's overall economy, the contribution rate of local enterprises in the textile industry is still considerable, accounting for about 40%. Up to now, the total investment of foreign enterprises in Vietnam's textile industry is about 32.9 billion US dollars.

The global and Vietnamese outbreaks in 2022 will remain complex and unpredictable. But the good news is that big markets such as the United States and the European Union have reopened, and Vietnam's epidemic prevention and control policy has also changed from "dynamic clearing" to safe and flexible adaptation, so as to recover and develop the economy while effectively controlling the epidemic. Accordingly, the Vietnam Textile Association has formulated the textile export target in 2022 and put forward three plans: high, medium and low

High case: if the epidemic situation is basically controlled in the first quarter of 2022, we will strive to achieve the export target of US $425-43.5 billion;

Medium case: if the epidemic situation is basically controlled by the middle of 2022, we will strive to achieve the export target of US $40-41 billion;

Low case: if the complex epidemic situation continues until the end of 2022, we will strive to achieve the export target of 38-39 billion US dollars.

(source: website of the Ministry of Commerce)