Textile & Garment – Note – [Nonrated] – Signals of shinning prospect

In 3Q24, textile and garment turned more vibrate in both manufacturing and export activity. Particularly, clothing, fabric and yarn domestic production grew by double-digit in 3Q24, meanwhile, the exports of textile and garment; and footwear soared by +15.6% yoy (USD10.7bn) and +19.3% yoy (USD5.7bn), respectively. The rosy growths were bolstered by reviving consumer demand for fashion during the year-end holiday season in the US and EU markets. In contrast, the bleak fashion prospects in China dragged on Vietnam’s fiber and yarn exports in 3Q24 (-7.8% yoy).