Home / Knowledge / News / Import/Exports / Problem for Vietnam's textile firms due to coronavirus

Problem for Vietnam's textile firms due to coronavirus

10
Feb '20
Pic: Shutterstock
Pic: Shutterstock
Textile and footwear makers in Vietnam are struggling to import material from China where factories have closed due to the coronavirus outbreak. Firms have been advised by the Vietnam Textile and Apparel Association (VITAS) to tap other markets to meet targets. China in 2019 accounted for 60 per cent of Vietnam’s garment imports and 55 per cent of fibre imports.

The coronavirus outbreak could negatively impact 10 major industries in Vietnam, including textiles, as Chinese factories shut down, stock brokerage firm SSI Securities Corporation (SSI) observed.

Some Vietnamese factories have either run out of raw material stock, some companies’ stock will last a few weeks more, and some have enough raw material for a few months, according to a report in a Vietnamese newspaper.

There is little scope to order more stock from China under the current circumstances.

In China’s central Hubei Province, where the majority of coronavirus-related deaths have occurred, factories will not resume production until February 14 and could run on a limited scale after that.

Nguyen Quoc Anh, chairman of Ho Chi Minh City Rubber Plastic Manufacturer Association (HRPMA), said production of rubber and plastic in Vietnam is largely dependent on China with 70 per cent of materials imported from that country.

In January, Vietnam’s imports of fabric from China fell 18.1 per cent to $950 million, according to the Vietnam’s General Statistics Office (GSO). Exports of textiles, a key sector, in all markets fell by 21 per cent year on year to $2.6 billion in January, while that of footwear fell by 9.7 per cent to $1.6 billion, it added.

Fibre2Fashion News Desk (DS)


Must ReadView All

Pic: Shutterstock

Textiles | On 22nd Feb 2020

Pharr sells Pharr High Performance to Coats Group

Pharr, a provider of differentiated textile products and assorted...

Pic: Shutterstock

Textiles | On 22nd Feb 2020

TOAI highlights importance of textiles in auto industry

The first edition of the conference 'Textile Opportunities in a...

Pic: Shutterstock

Textiles | On 22nd Feb 2020

Cocona's 37.5 fibres to have new biodegradable additive

All of the 37.5 staple fibres and filament yarns by Cocona, will now...

Interviews View All

Top executives, Textile industry

Top executives
Textile industry

Union budget 2018-19 will have positive impact on apparel industry

Dinaz Madhukar, DLF Emporio and DLF Promenade

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Rahul Bhadani, Looksgud

Rahul Bhadani
Looksgud

Navigating through catalogues is a bit hasslesome

Jason Remnant,

Jason Remnant

<div>Xaar plc develops digital inkjet technology; it designs and...

Paolo Toricella,

Paolo Toricella

Electronics for Imaging (EFI) is a global technology company, based in...

Pietro Turrin,

Pietro Turrin

Industrie Tessili Bresciane (ITB) has served numerous industries and...

Davide Vigano, Sensoria

Davide Vigano
Sensoria

Sensoria is a leading developer of smart garments and IoMe (Internet of...

Ian Russell, Pireta

Ian Russell
Pireta

UK-based Pireta has developed a unique free-form process to add durable,...

Keith McMillen, Bebop Sensors

Keith McMillen
Bebop Sensors

Bebop Sensors' smart fabrics allows for a new level of interaction between ...

Jay Ramrakhiani, Occasions Elegance Wear

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Sonam & Paras Modi, SVA

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Sailesh Singhania, Sailesh Singhania Label

Sailesh Singhania
Sailesh Singhania Label

The Sailesh Singhania label was created to promote handwoven sarees and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


February 2020

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search