2025: Exports of textiles, garments, and footwear reached a new record of nearly USD 76 billion; however, growth was highly polarized across product segments, markets, and enterprise groups. Growth was primarily driven by apparel, footwear, and handbags, while the fiber segment faced price pressure, resulting in a decline in export value.

As of the end of January 2025, 98 of Nike’s manufacturing and supply partners have set up operations in Vietnam, managing a total of 162 factories and employing over 493,000 workers. According to Nike’s FY2024 Annual Report (ending May 31, 2024), Vietnam remains the American sportswear giant’s largest production base globally. With the U.S. President proposing a 46% retaliatory tariff on Vietnam (currently pending negotiation), companies like Nike—heavily reliant on Vietnames

The third quarter of 2023 financial reports of 29 textile and garment enterprises showed that only 3 enterprises increased profits

The European Union, as the next supplier in line, managed to mitigate the drop in exports to the US to -3.5%