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Vietnam's textile-garment exports drop with few orders

29
May '20
Pic: Shutterstock
Pic: Shutterstock
Vietnam’s textile and apparel export turnover in 2020 is expected to reduce by a fifth compared to 2019 figures, according to the Vietnam National Textile and Garment Group (Vinatex), which feels the demand will recover from the third quarter. Basic and cheap products will recover first and make up the main sales proportion in the third and fourth quarter of 2020.

In the short-term, when the pandemic is under control and the demand for medical products no longer exists, the textile and garment industry will continue to fall short of orders.

If the recovery is good in the European Union and the United States, it is possible to expect a recovery in export of high-end items by Christmas this year, according to a report in a Vietnamese newspaper.

Along with factors in consumer behaviour, rearranging the supply chain with the ability of developed countries to pull the textile and garment industry into their home, ensuring both the safety rate and non-breaking of the chain and creating domestic jobs may be new trends, said Le Tien Truong, general director of Vinatex.

The trend of green products, less consumption after reviewing consumer shopping behavior will be the key factor to lead the world textile market, he said.

Vinatex will continue producing masks and medical protective clothing in the second quarter to take advantage of demand in foreign markets.

In the first four months of this year, the textile and garment export value reached $10.63 billion, down by 6.6 per cent compared to same period in 2019. The import value reached $6.39 billion, down by 8.76 per cent compared to the same period in 2019.

According to the ministry of industry and trade, textile and footwear enterprises have been greatly affected by the COVID-19 pandemic.

Fibre2Fashion News Desk (DS)


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