The textile industry market increased by more than 20% in the first eight months of 2022, and the textile industry market in Vietnam also recorded a turnover of US$4 billion in August. This proves the importance of Saigontex exhibition when supplying a series of main machinery, equipment and raw materials to the Vietnamese textile industry market.
Export of the textile industry market
According to updated data of the General Department of Customs, the export value of Vietnam’s textile industry market in August reached 4 billion USD for the first time after reaching over 3 billion USD per month in 6 months. previous consecutive month. Notably, according to the customs authority, exports of textiles and garments in the last 3 months (June, July, August) all increased well, set a consecutive peak and for the first time, exports reached the $4 billion mark in October. Last August, an increase of 8.7% compared to the previous month.
By the end of August, the textile industry market exports reached $26.28 billion, up 24.3%, equivalent to an increase of $5.14 billion over the same period last year, the second largest contributor. in increasing the country’s exports, only after machinery, equipment, tools and spare parts. In addition, according to the customs authority, in the first eight months of 2022, some of Vietnam’s key export markets for textiles and garments had a high increase of over 20% over the same period last year. This is the highest growth rate of the textile industry market in more than 10 years.
Specifically, the export of the textile industry market to the largest market, the US, reached 12.88 billion USD, up 22.6%, equivalent to 2.73 billion USD or the European market (EU) reached 2.73 billion USD. $3.02 billion, up 41.1%, corresponding to an increase of $879 million. Markets such as Japan, during the same period, also increased by 22% to reach $2.54 billion, up $458 million, respectively, and the Korean market reached $2.14 billion, up 20.5 %, corresponding to an increase of $ 365 million over the same period last year.
The results of August and the first 8 months of the year show the complete opposite of the concerns and complaints of domestic garment manufacturers and processors, saying that from June to now, they have been continuously cut orders. sudden orders or new orders dropped sharply due to difficulties in product consumption by importers. The current decline in production orders is a common situation in the world. And industry market countries, Vietnam is still a market for the textile and garment industry that is highly appreciated by international buyers for product quality, stability, and is the country with the earliest open-door policy to operate normally. compared to Bangladesh, India and China…
>> See more: SaigonTex and the textile industry bring Vietnamese businesses to the world
Return of Saigontex exhibition
Along with that is the extensive integration of the Vietnamese textile industry market through participation in many bilateral and multilateral trade partnership agreements, helping goods manufactured from Vietnam have more markets and compete. prices thanks to tariff reductions. This partly explains that despite the difficult situation, Saigontex 2023 exhibition still attracts many major machinery and technology manufacturers in the world to approach Vietnamese textile enterprises.
At the International Exhibition of Textile & Garment Industry, Equipment, Materials & Fabrics – Saigontex. An expert (anonymously) said that the above-mentioned record export value of the industry in August was due to the presence of Saigontex exhibition, which increased the export volume of the textile industry market in 2022. Saigontex has helped domestic and foreign businesses connect and cooperate. From there, companies easily find quality agents and investors. Bringing many opportunities for global suppliers and local manufacturers, especially after the FTAs are ratified.
The return of Saigontex 2023 exhibition is both a favorable opportunity for businesses to meet, exchange and promote production and trading in the future. As well as a place to display and promote products, the company’s image comes closer to domestic and foreign customers and partners. At the same time, Saigontex 2023 exhibition also helps businesses increase brand recognition through their presence at events and media.
In addition, when participating in Saigontex 2023, businesses can directly listen, exchange and learn from leading experts in the industry. Receive the valuable knowledge of the giants in the textile and garment industry, from which to draw lessons for their businesses.
With the above benefits, it is hard to deny that the return of this Saigontex 2023 exhibition has contributed to promoting economic development for the Vietnamese textile industry market. Contributing to helping businesses that are struggling to rise and develop further in the future.
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