Textiles consistently rank among Vietnam’s leading export industries, employing upwards of 1.3 million workers in directly related jobs and more than two million with auxiliary work included. The growth of the garment industry has been impressive. AmCham states that Vietnamese garment exports rose by 14.85 percent in October alone. China is the only nation that surpasses Vietnam in terms of net garment exports to the U.S.. However, manufacturers and investors are pivoting towards Vietnam; the conditions for setting up shop are economical and more convenient than doing so in China.
Within ASEAN, Vietnam is the strongest competitor for inheriting low value-added textiles and apparel manufacturing from China. In contrast to other leading textile exporters in the region (Indonesia, Thailand, Malaysia), the share of Vietnam’s textile exports against its total exports has grown in recent years.
In terms of revenue, footwear is Vietnam’s third most productive export industry, generating US$8.5 billion in 2013. The country produces 800 million pairs of shoes per year.
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