'Vietnams Apparel Exports Projected to Increase 7.4% this Year to US$ 43.5 Billion

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Vietnam's Apparel Exports Projected to Increase 7.4% this Year to US$ 43.5 Billion


Vietnam's apparel exports are expected to jump 7.4% this year to $43.5 billion as factories maintain output despite soaring coronavirus infections, the country's textile and garment association told Reuters.

Among the world's biggest producers of brands such as Nike, Zara and H&M, Vietnam recently lifted most of the COVID-19 restrictions, which last year disrupted production and bogged down global supply chains.

"The pandemic will have a milder impact on Vietnam's garment and textile industry this year thanks to the high vaccination rate," vice chairman of the Vietnam Textile and Apparel Association, Truong Van Cam, said in an interview this week.

Daily coronavirus infections in the Southeast Asian nation hit a record high of 31,800 on Tuesday but businesses and experts say the risk of repeating last year's lockdown is lower now that millions of factory workers have been vaccinated and with the Omicron variant it appears less severe.

Cam said the pandemic-related shutdowns had affected up to 1.2 million garment workers last year, or 65% of the industry's workforce. Nearly all of them have now returned to work, he added.

"Thanks to the country's flexible policies to tackle the pandemic while restoring business activity, especially from the fourth quarter of 2021, the garment and textile industry has managed to significantly limit supply chain disruptions," he said.

Vietnam has recorded 2.57 million cases of COVID-19 and around 39,000 deaths. More than 76% of its population of 98 million have received at least two doses of the vaccine, according to official data.


The tourism ministry has proposed a complete reopening of the country to foreign tourists from March 15, three months earlier than planned.


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