Export revenue from garment and textile products reached nearly $16 billion in the first five months of 2024, up 5% compared to the same period last year, according to Vietnam’s largest textile and garment maker Vinatex.

Notably, Vietnam surpassed China to become the top garment and textile exporter to the US.

Vietnam also ranked first among the three largest garment and textile exporters in the world in terms of the growth rate in the five - month period. The two others, Bangladesh and China, registered a year-on-year rise of 3.9% and 2%, respectively.

The industry targets a year-on-year surge of 8-10% in export revenue this year.

Vinatex meanwhile set a goal of gaining total revenue of VND17.9 trillion ($703 million), equivalent to 101.63% of the 2023 figure, according to Vinatex General Director Cao Huu Hieu.