SUMMARY
 
World: Demand for textiles, garments, and footwear in the world market has decreased, leading to a decrease in product and processing unit prices, and increasing competitive pressure in the export market. The direct competitors of Vietnam Textile, Garment & Footwear are China, Bangladesh, India, and Indonesia.
 
Vietnam: Continuing the difficulties from Q3/2022, 2023 is the first year that the total export turnover of Vietnam's textile and garment industry decreased by more than 10% over the same period. Sparse orders, factory capacity, and staff cutbacks are common situations in 2023. Production order prices have decreased sharply, on average by over 30%, especially the prices of large quantity items have decreased by up to 50%.
 
Specifically, the total export of the entire Textile, Garment & Footwear industry reached $64.32 billion, down 12.4% over the same period. Of which, the textile and garment achieved a decrease of 11.3%, and the footwear/bag decreased by 14.2% over the same period. The fiber achieved the most positive results compared to other products (increase in export output).
 
OUTLOOK: Total world textile and garment demand in 2024 is forecast to improve compared to 2023, but still 5-7% lower than in 2022. On that basis, VITAS sets a goal of exporting the Textile and Garment industry (footwear & bags) in 2024 to reach $44 billion, an increase of 9.2% compared to 2023.
 
TABLE OF CONTENTS 
 
A. GENERAL PERCEPTION
 
B. OVERVIEW OF THE EU ACTION PLAN FOR THE CIRCULAR ECONOMY AND SUSTAINABILITY
 
C. DETAILS OF SOME REGULATIONS RELATED TO CIRCULAR ECONOMY AND SUSTAINABILITY
 
D. INTRODUCING SOME INTERNATIONAL STANDARDS TO EVALUATE THE SUSTAINABILITY OF BUSINESSES
 
E. OVERVIEW
Number of businesses & employees in the entire Textile + Garment + Footwear industry
Business distribution map for each industry (by province)
Scale and structure of industry-wide revenue (export / domestic sales)
Production, consumption, and inventory situation of the entire industry
Export value & Industry-wide trade balance
Export value of the FDI sector
Structure of export product groups
Export market
Supply of imported raw materials
 
F. DETAILS OF EXPORTS OF EACH ITEM
Textile and Garment
Footwear
Yarn & Textile
Handbag, Wallet, Hat
 
G. IMPORT OF SOME TYPES OF RAW MATERIALS