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Apparel production in Vietnam fell by 4.6% YoY in Jan-Jul

14
Aug '20
Pic: Shutterstock
Pic: Shutterstock
In the first seven months of this year, textile production in Vietnam rose by 1.8 per cent, while apparel production decreased by 4.6 per cent compared to the same period in 2019, according to the ministry of industry and trade. Export turnover of textiles and apparel in seven months was estimated at $16.18 billion, down by 12.1 per cent.

Production of fibres and textile fibres decreased by 20.9 per cent over the same period in 2019.

By July, many textile enterprises have not had orders for the last two quarters of the year for high-value products like suits and high-end shirts, while masks and protective goods, households are helping many garment businesses in the second quarter, the current price has dropped sharply due to an oversupply worldwide, according to a Vietnamese newspaper report.

Vietnam Textile and Garment Group (Vinatex) forecasts that Vietnam's textile and garment export in the last six months of the year will continue to decrease by 14-18 per cent over the same period last year. The total export turnover of the whole year is about $32.75 billion, down by about 16 per cent compared to 2019.

Vinatex general director Le Tien Truong said consumption behavior after the pandemic has changed significantly.

"In the first six months of the year, because Vietnam has not stopped production like China or Bangladesh because of social distancing, the market share of Vietnam textile and apparel in the US and EU has increased, regaining market will take place in the near future," Vinatex leaders told a Vietnamese newspaper..

Fibre2Fashion News Desk (DS)


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