Business News

In 2025, Vietnam's textile and garment industry targets US$47-48 billion in export revenue, a US$3-4 billion increase from last year. To achieve this, businesses must expand markets and secure a proactive raw material supply while meeting strict standards on transparency, sustainability and labor compliance from key importers like the U.S. and the EU.

The domestic textiles and garment industry is witnessing a surge in export orders in 2025, driven by a positive economic outlook and competitive advantages, positioning the country as a key player in the global market.

The combination of sustainability and culture will open up more opportunities for Vietnamese textile enterprises to strengthen their position in the global market and capture the promising Nordic fashion market.

By leveraging last year's robust recovery, Vietnam's garment and textiles sector is poised for significant growth in 2025, driven by shifting global demand, green production practices, and technological advancements.

The leather and footwear industry has set a target of achieving export value of US$29 billion this year, an increase of ten per cent year-on-year, according to the Việt Nam Leather, Footwear and Handbag Association (Lefaso).

According to the Vietnam Textile and Apparel Association, Vietnam's textile and garment industry has fulfilled its 44-billion-USD export turnover target in 2024. The US remains the largest export market with an estimated export turnover of 16.71 billion USD, up 12.33% and accounting for 37.98% of the total turnover, followed by Japan, EU, the Republic of Korea, China, and ASEAN.

A major challenge for Vietnam's leather and footwear industry is its heavy reliance on imported raw materials like leather, synthetic materials, fabrics and accessories, despite ongoing efforts to boost local sourcing.

This optimistic forecast reflects the industry’s efforts to expand and diversify its markets. Lefaso indicated that Vietnam’s footwear sector will concentrate on traditional markets like the U.S. and the European Union, alongside markets with free trade agreements to maximize opportunities.