The export of articles of apparel and clothing accessories from Viet Nam has witnessed significant growth from 2013 to 2023. The value of exports stood at 837,000 US dollars in 2023, marking a notable increase from 162,000 US dollars in 2013. Year-on-year variations generally reflect an upward trend with considerable spikes in years like 2016 (153.94%) and 2021 (11.37%). Over the last five years, the Compound Annual Growth Rate (CAGR) averaged at 5.86%, reflecting a steady pace in export growth.
Future trends are forecasted to continue this gradual increase, with the export value expected to reach 1,025,100 US dollars by 2028. This translates to a forecasted CAGR of 3.2% for the next five years, signifying a consistent and sustainable growth trajectory.
**Future trends to watch for**
• Fluctuations in global demand for apparel may impact export volumes.
• Trade policies and agreements affecting Viet Nam.
• Innovations in textile manufacturing and sustainable practices.
• The global economic conditions and their impact on consumer spending.
