According to preliminary statistics just announced by the General Department of Customs, in the first half of January

The European Union, as the next supplier in line, managed to mitigate the drop in exports to the US to -3.5%

Data from the General Department of Customs showed that the export value of the textiles and garments sector in 2022 reached $37.57 billion,

The leather and footwear industry targets $27 billion in export turnover this year, a year-on-year increase of 10 percent.

The total import and export turnover of foreign direct investment enterprises reach $506.83 billion, an increase of 9.3% compared to 2021

These include machinery, equipment, tools and other spare parts, which increased by 62.1%, footwear, which increased by 41.3%, textiles,

manufacturing and processing, which reported growth of 9.5%, continued to be the main driver for the entire sector, contributing 86%

Declining demand, high inventory, rising labor costs, and exchange rate losses... are the difficulties that enterprises in the textile ...

The economic downturn and high inflation in many major export markets exert difficulties on Vietnam’s textile exporters for 2023.

The textile sector needs strong state backing, especially in terms of capital and policies to support the production of raw materials.