Economic Observation: Vietnamese Textiles, Clothing And Shoes Attract The Attention Of American Consumers

Vietnam Tongshe Hanoi ——From August 7 to 9, delegations from Vietnam Textile and Clothing Association (VITAS) and Vietnam Leather Shoes and Handbags Association (LEFASO) participated in the 16th International Clothing and Fabric Exhibition (Magic) in 2023 held in Las Vegas, the United States Show 2023 )。 This is an activity within the framework of Vietnam's trade promotion plan in 2023, and it is also one of the annual activities to study and investigate the US market.

This year, 28 enterprises participated in the Vietnam textile and clothing delegation, with more than 20 booths. The Vietnam exhibition area gathered in the center of the exhibition, attracting a large number of visitors' attention, and demonstrating the prestige and status of Vietnamese textiles, clothing and footwear in the traditional market of the United States.

Du Yuxing, Director of Vietnam's Commerce Department in the United States and Commercial Counsellor, said that according to the statistics of the USITC of the U.S. Department of Commerce, Vietnam continued to be the eighth largest trading partner of the United States in the first five months of this year, and the United States was Vietnam's largest export market. The US Vietnam trade surplus reached about 40 billion US dollars, second only to China and Mexico.

Vietnam and the United States have strong economic complementarities. The quality of Vietnamese goods is constantly improving, and the price is competitive. In terms of textile, clothing and footwear industry, Vietnam is the second largest exporter of the United States, second only to China. According to the new orders in the last two quarters of 2023, Vietnamese goods on the shelves of American stores are becoming more and more popular.

Zhang Wenjin, Vice Chairman of VITAS, pointed out that "the order situation will improve from now to the end of the year. It is estimated that Vietnam's textile and clothing exports will reach 8 billion dollars in 2023."

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Pan Shichun, Vice Chairman of LEFASO, said that the United States continues to be a traditional market with huge potential in Vietnam's footwear industry, accounting for a huge proportion of total exports. Footwear orders are expected to pick up, especially in the last months of this year. According to statistics, the inventory in the United States has declined, and distributors will supplement new orders.

In order to support domestic enterprises, Vietnam's Commerce Office in the United States will actively hold activities to explore the market, grasp market consumption trends and new policy information, contact partners, and support enterprises to participate in Magic Exhibition effectively.

It is predicted that the US economy has released a positive signal, which is an important basis for Vietnam's textile, clothing and footwear industries to accelerate the pace of recovery and make positive contributions to promoting national economic growth, ensuring and improving people's livelihood.

The Las Vegas International Garment and Fabric Fair was organized by Advanstar Organized by MAGIC Exhibition Company, a subsidiary of Communications Group, it was founded in 1933 and held once every February and August for 80 years.

MAGIC Exhibition is the only professional clothing and fabric accessories exhibition with the most complete and comprehensive supporting services from clothing raw materials to various clothing finished products and related industrial chain in the world at present. It is the best service trading platform for clothing, fabric, accessories and clothing industry chain, and the release center of the latest information related to the clothing industry chain that attracts global media attention, It is a feast for lectures on the latest fashion shows and hot topics in the clothing industry chain market.

It is understood that MAGIC has attracted nearly 4000 international enterprises from about 40 countries to participate in each exhibition, with the exhibition scale of more than 200000 square meters. According to statistics, MAGIC attracts about 100000 buyers from 110 countries and regions around the world to negotiate every year, of which 54% are from the purchase decision-making level, 80% expect to find new partners through the exhibition, and 75% will further negotiate with suppliers after the exhibition. (End)