Vietnam's export ratio of textiles & clothing in GDP at 10.66% in 2022

Among major textile-exporting countries, Vietnam enjoys the highest ratio of textile and clothing exports in its gross domestic product (GDP). The ratio stood at 10.65 per cent in 2022, while India had the lowest ratio of textile and clothing exports in GDP. 

The export of textiles and clothing accounted for 9.52 per cent of Vietnam's GDP in 2020. This ratio improved and reached double digits, standing at 10.22 per cent in the following year, 2021, according to Fibre2Fashion’s market insight tool TexPro. 

The world's second-largest economy, China, had a ratio of 1.43 per cent against its GDP in 2022 for textiles and clothing exports. China's export ratio of textiles and clothing increased in 2022 compared to 2021 when it stood at 1.35 per cent of GDP. There was a rise in the export ratio in 2021 compared to 2020, when it was noted at 1.27 per cent. 

India's export ratio of textiles and clothing decreased to 0.87 per cent in 2022 from 0.98 per cent in 2021. Previously, the export ratio against its GDP was noted at 0.83 per cent in 2020. Its ratio was the lowest among these textile-exporting countries, as per TexPro.

While Bangladesh witnessed a consistent rise in the export ratio, reaching 9.67 per cent in 2022, the ratio against its GDP was noted at 7.54 per cent in 2020 and 8.37 per cent in 2021. However, the ratio decreased to 3.01 per cent in 2022 in Turkiye from 3.11 per cent in 2021. The export ratio of textiles and clothing against its GDP was 2.82 per cent in 2020 for Turkiye. 

Fibre2Fashion News Desk (KUL)