Vietnam textile and garment & footwear industry report 2025 & outlook for 2026

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Vietnam textile & garment and footwear industry highlights 2025 & outlook for 2026

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.

The FDI sector continued to lead with double-digit growth, while domestic enterprises (DDI) remained under pressure overall. Nevertheless, several leading local players delivered positive results by diversifying export markets, increasing localization rates, and shifting toward ODM/OBM business models.

By market, the United States, the EU, and CPTPP countries maintained growth momentum, whereas exports to China and South Korea declined. The domestic market is sizable but intensely competitive, and most local enterprises have yet to effectively capitalize on its potential.

Outlook for 2026:

Exports are expected to remain on a positive trajectory, supported by FTAs and expansion into new markets. However, growth headroom is constrained by (i) slower global demand growth, (ii) intensifying regional competition (India, Indonesia, Cambodia), (iii) elevated inventories at major global brands, and (iv) rising tariff risks and increasingly stringent traceability and ESG requirements, while reliance on imported raw materials—particularly from China—remains high.

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[VI] TEXTILE AND GARMENT & FOOTWEAR INDUSTRY REPORT - 2025 & Outlook 2026

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Table of content

A. EXECUTIVE SUMMARY

B. INDUSTRY OVERVIEW