Export of textiles, leather and footwear prospered thanks to a strong increase in shopping demand
Accummulated over five months, the textile production index increased by more than 8% over the same period; the apparel manufacturing industry increased by more than 9%; leather and related products industry increased by 12%.
According to the report on industrial production and trade in May of the Ministry of Industry and Trade, the textile, garment and footwear industry in May and the first five months of 2021 had more signs of improvement than in the same period last year. Some of Vietnam's main export markets have gradually recovered and taken advantage of opportunities from the FTAs that have been signed and put into effect.
There have been many positive signs from the US, EU, Japan, and South Korea markets when many businesses have had export orders until the third quarter of this year. US and European consumers have shown a strong increase in demand for consumer goods such as clothing and shoes as the economy recovers due to the gradual lifting of the lockdown.
The textile production index in May increased by 2.2% compared to the previous month and increased by nearly 10% over the same period in 2020; the apparel manufacturing industry increased by more than 2% and nearly 13%, respectively; leather and related products industry increased by more than 8% and 21.2% respectively.
Accumulated over five months, the textile production index increased by more than 8% over the same period; the apparel manufacturing industry increased by more than 9%; leather and related products industry increased by 12%.
The manufacturing index of leather and related products in May increased by 8.1% compared to April and increased by 21.2% over the same period. Accumulated over five months, the production index of this industry increased by 12% over the same period.
Some products in the industry achieved good growth, such as fabrics made from natural fibers estimated at 261.5 million m2, increased by 9.3% over the same period; production of woven fabrics from synthetic and man-made fibers is estimated at 482.5 million m2, increased by 8.8% over the same period; casual wear is estimated at nearly 1,883 million pieces, increased by 9.7%; leather footwear is estimated at 121 million pairs, increased by 12.6%.
Export turnover of textiles and garments is estimated at USD 12.2 billion, increased by 15% over the same period; export turnover of fibers and textile yarns of all kinds increased by more than 60%; export turnover of curtains and other technical textiles increased by 66.2%. Export turnover of shoes and sandals of all kinds is estimated at USD 8.46 billion, an increase of 26.4% over the same period.
- CPTPP creates favorable conditions for Vietnam to export to Canada
- Taking advantage of incentives to boost export growth to Mexico
- Industrial production index in 2021 is forecast to increase by 6%
- Export turnover to the US reached USD 61.8 billion in eight months of 2021
- Export turnover to the Netherlands and Germany increased in eight months of 2021
- Trade surplus returns in September
- World Bank forecasts Vietnam's GDP to grow 4.8% this year
- Trade surplus of more than USD 13 billion to the EU market
- Steel exports hit a record
- Major trade agreements support export growth during the pandemic