2025 Vietnam Knitwear (HS 611020) Export: Surge & Slump

Key Takeaways

Knitwear, classified under HS Code 611020, exhibited high volatility from January to October 2025.

• Market Pulse: Exports surged 33.39% in April, peaking at 268.94 million USD in July, then dropped 7.15% post-August due to U.S. tariff implementation.
• Structural Shift: Vietnam Knitwear Export relies heavily on the U.S. (64.36% of value), creating concentration risk, while Japan and the Netherlands offer premium but smaller opportunities.
• Product Logic: HS Code 611020 trade data reveals a low-value, high-volume market (6.05 USD/unit), dominated by jerseys and pullovers with no product diversification.

This overview covers the period from January to October 2025 and is based on verified customs data from the yTrade database.

Vietnam Knitwear (HS Code 611020) Key Metrics Trend

Market Trend Summary

The Vietnam Knitwear Export trend from January to October 2025 exhibited pronounced volatility, beginning with a 15.67% month-on-month decline in February to 109.25 million USD before accelerating into a sustained rally. Exports surged 33.39% in April and maintained double-digit growth through July, peaking at 268.94 million USD. However, August marked a reversal, with values dropping 7.15% and continuing to decline through October, settling at 192.40 million USD.

Drivers & Industry Context

This trajectory aligns directly with U.S. tariff policy shifts. As reported by VIZION, a 20% tariff on Vietnamese exports effective August 2025 triggered a mid-year shipment rush, explaining the 40%+ volume surge cited in Q2 data. The value from HS Code 611020 peaked in July as exporters front-loaded orders ahead of the deadline, with the post-August decline reflecting tariff implementation. Vietnam Customs data (customs.gov.vn) corroborates broader trade resilience, but knitwear specifically contracted under new duties.

Table: Vietnam Knitwear Export Trend (Source: yTrade)

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Vietnam HS Code 611020 Export Breakdown

Market Composition & Top Categories

According to yTrade data, Vietnam's HS Code 611020 export market is entirely dominated by a single category: jerseys, pullovers, cardigans, and similar cotton knitwear, accounting for 100% of shipments and value from January to October 2025. This category saw over 184,000 shipments totaling 308.68 million units, highlighting its uniformity in Vietnam HS Code 611020 Export. No other sub-codes were present, indicating a highly concentrated product range.

Value Chain & Strategic Insights

The unit price of 6.05 USD per unit reflects a low-value, mass-produced good, typical of commodity markets where price competition is intense rather than quality differentiation. This HS Code 611020 breakdown suggests a price-sensitive trade structure, with exports driven by volume over value-add. For Vietnam, this implies a focus on cost efficiency and scale in knitwear production to maintain competitiveness.

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Vietnam Knitwear Destination Countries

Geographic Concentration & Market Risk

Vietnam's knitwear exports from January to October 2025 show extreme geographic concentration, with the United States accounting for 64.36% of total export value. This creates significant market risk, as over two-thirds of Vietnam's knitwear revenue depends on a single economy. The next largest destinations, Japan and the Netherlands, capture less than 10% of value each, failing to provide meaningful diversification for Vietnam Knitwear export destinations.

Purchasing Behavior & Demand Segmentation

The US market demonstrates quality-conscious demand, with its value share (64.36%) substantially exceeding its quantity share (69.50%), indicating higher unit prices and premium specifications. Japan shows even stronger premium signals with a value ratio (9.96%) nearly matching its quantity share (9.31%), suggesting sophisticated trade partners for Knitwear. This pattern, combined with Canada's high frequency ratio (6.42%) against modest value share (3.62%), reveals a diversified demand base spanning premium segments and frequent replenishment cycles, offering both margin potential and volume scale.

Table: Vietnam Knitwear (HS Code 611020) Top Destination Countries (Source: yTrade)

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Vietnam Knitwear Buyer Companies Analysis

Buyer Concentration & Market Structure

According to yTrade data, Vietnam Knitwear buyers are dominated by a core group of key accounts, which represent 75% of the total export value. This high-value, high-frequency segment drives the market through stable, contract-based supply chains with major brands and manufacturers. Their consistent purchasing patterns establish them as the market's anchor, creating a concentrated but predictable export flow for HS Code 611020.

Purchasing Behavior & Sales Strategy

The heavy reliance on a few key accounts introduces concentration risk; losing one major buyer could significantly impact revenue. Sales strategy must prioritize relationship management and supply chain reliability for these loyal partners, especially with new U.S. tariff conditions affecting direct exports [VIZION]. Diversifying into the smaller, fragmented segments could mitigate risk, but the primary focus should remain on securing long-term contracts with high-volume repeaters throughout most of 2025.

Table: Vietnam Knitwear (HS Code 611020) Top Buyers List (Source: yTrade)

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Action Plan for Knitwear Market Operation and Expansion

• Secure Key Accounts: Prioritize contract stability with top buyers (75% of export value) to mitigate concentration risk amid tariff pressures.
• Diversify Geographically: Target Japan and Canada to balance U.S. dependence, leveraging their premium pricing and frequent replenishment cycles.
• Optimize Logistics: Reduce unit costs for bulk cotton knitwear to maintain competitiveness in a price-sensitive market.
• Monitor Tariff Shifts: Adjust shipment schedules ahead of policy changes, replicating the Q2 2025 rush strategy for future deadlines.
• Explore Product Upgrades: Test higher-margin knitwear variations to shift from commodity pricing, aligning with Japan’s quality-driven demand.

Take Action Now —— Explore Vietnam Knitwear HS Code 611020 Export Data

Frequently Asked Questions

Q1. What is driving the recent changes in Vietnam Knitwear Export in 2025?

The 2025 export trend was heavily influenced by U.S. tariff policy shifts, with a 40%+ volume surge in Q2 as exporters front-loaded orders ahead of a 20% tariff implemented in August. Post-August declines reflect the tariff's impact on HS Code 611020 trade.

Q2. Who are the main destination countries of Vietnam Knitwear (HS Code 611020) in 2025?

The U.S. dominated with 64.36% of export value, followed by Japan (9.96%) and the Netherlands (<10%). This extreme geographic concentration creates significant market risk for Vietnam.

Q3. Why does the unit price differ across destination countries of Vietnam Knitwear Export in 2025?

The U.S. and Japan show premium demand, with value shares exceeding quantity shares, while other markets prioritize volume. The uniform 6.05 USD unit price for bulk cotton knitwear indicates price competition over quality differentiation.

Q4. What should exporters in Vietnam focus on in the current Knitwear export market?

Exporters must prioritize securing long-term contracts with high-volume repeat buyers (75% of value) while diversifying beyond the U.S. to mitigate tariff and concentration risks.

Q5. What does this Vietnam Knitwear export pattern mean for buyers in partner countries?

U.S. buyers face supply chain volatility from tariff shifts but benefit from stable, cost-efficient bulk production. Premium markets like Japan can leverage quality-conscious Vietnamese suppliers.

Q6. How is Knitwear typically used in this trade flow?

HS Code 611020 exclusively covers mass-produced cotton knitwear like jerseys and cardigans, traded as low-value commodity goods for high-volume apparel retail.