The demand for textiles across the globe has been increasing at a tremendous rate with time due to which Vietnam a top global trader has started exporting a wide variety of its products to fulfill the globally acquired demands. Vietnam with a significant annual growth of 10% in its textile industry records itself as the sixth largest global textile exporter. The factors promoting the abundance of textile production in the industrial sectors are the presence of raw materials like cotton, silk, and wool in its land area.

The growing textile export industry of Vietnam shares a substantial contribution of around 15% to its GDP, among which readymade garments top the list by making up half of the total exports of textiles from the nation. The history of Vietnam being the top textile exporter is quite long attached to its cultural roots when hand weaving was a craft dating back to the pre-colonial era. The growing export trade industry of Vietnam has recorded an export trade value of 52 billion US dollars in 2023 with a growth rate of 2.8% from the previous year’s value.

Top 10 Vietnam Textile Exports of 2023

To fulfill the globally growing demand for Textiles, the country has started exporting several of its kinds for a suitable annual revenue generation. As per the Vietnam Textile Export Data, the top textile exports from Vietnam are,

1. Knitwear – Market value of Knitwear in Vietnam Textile exports of 2023 – 11 billion US dollars.

2. Woven Garments – Market value of Woven Garments in Vietnam Textile exports of 2023 – 9 billion US dollars.

3. Cotton Fabric – Market value of Cotton Fabric in Vietnam Textile exports of 2023 – 8 billion US dollars.

4. Synthetic Yarn – Market value of Synthetic Yarn in Vietnam Textile exports of 2023 – 5 billion US dollars.

5. Denim – Market value of Denim in Vietnam Textile exports of 2023 – 4 billion US dollars.

6. Textile Fibers – Market value of Textile Fibers in Vietnam Textile exports of 2023 – 3 billion US dollars.

7. Non woven Textiles – Market value of Non woven Textiles in Vietnam Textile exports of 2023 – 2.5 billion US dollars.

8. Leather Goods – Market value of Leather Goods in Vietnam Textile exports of 2023 – 2 billion US dollars.

9. Silk Fabric – Market value of Silk Fabric – in Vietnam Textile exports of 2023 – 1.5 billion US dollars.

10. Knitted Fabrics – Market value of Knitted Fabrics in Vietnam Textile exports of 2023 – 1 billion US dollars.

Why is Vietnam a Top Textile Exporter?

The growing export trade rate of textiles from Vietnam has been increasing at a tremendous rate; as per the Vietnam Textile Customs Data the top 10 key factors behind textiles being the top export of Vietnam are,

• Vast Labor Workforce – The abundant and skilled workforce engaged in the manufacturing sectors of textiles makes Vietnam a competitive export location of Textiles.

• Fine Manufacturing Base – The manufacturing of textiles by the use of different modern cutting-edge techniques and a robust workforce promotes the export trade rate of textiles.

• Strategic Location – The strategic location of the nation near the top trade partners like China, South Korea, and Japan facilitates the export rate.

• Free Trade Agreements – The different trade agreements signed with different top traders like the Comprehensive and Progressive Agreement for Trans-Pacific Partnership and FTA with the European Union ease the transport rate.

• Diversifying Market – The vast production factors producing different kinds of textiles like cotton fabric, synthetic yarn, and many others promote the country’s rank as the top textile exporter.

• Government Efforts – The increasing government efforts behind the trade rate of top exports like the incentives for tax reduction, improving transportation port infrastructure, and FTA are the factors promoting the export of textiles from the nation.

• Supply Chains – The connection of Vietnam to different multinational companies facilitating its global trade rates initiates the supply chains of the nation.

• Affordable Cost – The manufacturing and trade management authority of Vietnam provides their top-notch textile products at an affordable range which initiates the growth rate of the textile exports.

• Infrastructure Development – The development of the infrastructure of both the transportation ports and the trade rate logistics has shaped the landscape of Vietnam's textile exports.

• E-commerce Trade – The country’s trade of textiles over different e-commerce platforms expands the global reach facilitating the trade-generated revenue.

Top 10 Vietnam Textile Export Trade Partners

According to the Vietnam Textile Trade Data, the top 10 countries where Vietnam exports most of its textile products are discussed below,

1. United States – According to the USA Import Data, the valuation of textile exports from Vietnam to the United States in 2023 – 18 billion US dollars.

2. European Union – According to the European Union Import Data, the valuation of textile exports from Vietnam to the European Union in 2023 – 16 billion US dollars.

3. Japan – According to the Japan Import Data, the valuation of textile exports from Vietnam to Japan in 2023 – 14 billion US dollars.

4. South Korea – According to the South Korea Import Data, the valuation of textile exports from Vietnam to South Korea in 2023 – 12 billion US dollars.

5. China – According to the China Import Data, the valuation of textile exports from Vietnam to China in 2023 – 10 billion US dollars.

6. Canada – According to the Canada Import Data, the valuation of textile exports from Vietnam to Canada in 2023 – 8 billion US dollars.

7. Australia – According to the Australia Import Data, the valuation of textile exports from Vietnam to Australia in 2023 – 6 billion US dollars.

8. United Kingdom – According to the United Kingdom Import Data, the valuation of textile exports from Vietnam to the United Kingdom in 2023 – 5 billion US dollars.

9. Russia – According to the Russia Import Data, the valuation of textile exports from Vietnam to Russia in 2023 – 4 billion US dollars.

10. Netherlands – According to the Netherlands Import Data, the valuation of textile exports from Vietnam to the Netherlands in 2023 – 2 billion US dollars.

FAQ’s

Que. What is the top textile export of Vietnam in 2023?
Ans. The top textile export of Vietnam in 2023 is Knitwear.

Que. Name the top textile export trade partner of Vietnam?
Ans. The top textile export trade partner of Vietnam is US.

Que. Where can you get a detailed trade analysis of Vietnam's Textile Export in 2023?
Ans. At Import Globals, you can get a detailed trade analysis of Vietnam's Textile exports in 2023.

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