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Vietnam's garment export orders continue to fall sharply

13
Aug '20
Pic: Shutterstock
Pic: Shutterstock
The orders of garment enterprises in Ho Chi Minh City continuously declined to 40 per cent of what it was during the same period last year, according to the HCM City Textile and Garment-Embroidery Association. In the first seven months of the year, textile production increased by 1.8 per cent and apparel production decreased by 4.6 per cent compared to the same duration last year, the ministry of industry and trade said.

Chairman of the Vietnam Textile and Apparel Association (VITAS) Vu Duc Giang said the pandemic has caused a change in consumer culture as people have shifted spending on essential products instead of laying too much emphasis on shopping as before.

To manage to survive, many garment enterprises are returning to the domestic market, but domestic demand is also weak because people are tightening spending, according to a Vietnamese newspaper report.

Garment and textile export turnover in the first seven months was estimated at $16.18 billion, down by 12.1 per cent; fibres and yarns of all kinds decreased by 20.9 per cent over the same period last year.

The total export turnover of the industry this year is projected to be about $32.75 billion, down 16 per cent compared to last year.

Fibre2Fashion News Desk (DS)


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