The sourcing split
The apparel market is contracting, but the winners are becoming clearer. In a weak cycle, Vietnam and Italy are gaining for opposite reasons. Vietnam is absorbing scale-driven diversification, while Italy is preserving high-value, near-market sourcing inside Europe.
Vietnam’s volume win
Vietnam’s advantage is now structural. TexPro data shows its apparel exports rose from about $**.** billion in **** to $**.** billion in ****, a CAGR of around *.* per cent. In ****, the US alone accounted for nearly ** per cent of Vietnam’s apparel exports, followed by Japan, South Korea, Germany and China. Comparable January-February **** TexPro data shows Vietnam’s apparel exports up about *.* per cent YoY, with strong gains to Germany, China, the Netherlands, the UK and Poland.
