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Vietnam's garment export hits $5.3 bn in Jan-Feb

18
Mar '20
Pic: Shutterstock
Pic: Shutterstock
Vietnam’s export turnover of garment and textile products reached $5.3 billion in the first two months of this year, down 3.5 per cent year-on-year. Of the total, $4.2 billion came from the shipment of apparel and $512 million from yarn, down 2.3 per cent and 16 per cent respectively, according to the Vietnam Textile and Apparel Association (Vinatex).

At present, the supply of raw materials meets production demand in March and April, according to a report in a Vietnamese newspaper.

However, the sector is facing a lot of difficulties, as the world economy is hit by the COVID-19 outbreak, resulting in a decrease in global demand.

Vietnam’s garment and textile exports fetched $39 billion in 2019, up 7.55 per cent over the previous year, but $1 billion lower than the target.

In 2020, the industry aims to achieve an export turnover of about $42 billion.

Fibre2Fashion News Desk (DS)


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