Vietnam’s “Investment News” reported on September 7 that the textile and apparel industry, which contributed more than 39 billion U.S. dollars to exports in 2019, is experiencing a severe impact from the epidemic. Textiles, clothing, yarn, and cloth The export value of all commodities fell year-on-year.
According to statistics, the export volume of textile and clothing in the first eight months of this year was 19.25 billion US dollars, a year-on-year decrease of 22.6%; the export volume of strong fabrics and other technical fabrics was approximately 260 million US dollars. US dollars, a decrease of 36.8%; various yarns reached US$1.1 billion, a year-on-year decrease of 19.4%.
Textile output in August increased by 3.1% month-on-month and 4.9% year-on-year; the total growth in the first eight months was 1.3% year-on-year. Clothing output in August increased by 4.9% month-on-month and 4.4% year-on-year; however, the total for the eight months still fell by 4.2% year-on-year.
It can be said that due to the impact of the new crown epidemic, the production and export of the textile and apparel industry are still facing many difficulties. Global consumer demand has shrunk due to social isolation, uncertainty about the future and tightening household spending policies, and business investment has also slowed.
Vietnam’s Ministry of Industry and Trade stated that entering the third quarter of 2020, the global textile and apparel market generally showed few signs of optimism, and market demand did not change much.
According to past practice, all companies should now receive orders before the end of the year or even in the first half of next year. However, due to the epidemic, global consumers only focus on daily necessities and anti-epidemic supplies, resulting in sluggish demand. Vietnamese textile and apparel companies currently only receive monthly or even weekly orders.
Currently, some companies have received about 50-60% of orders in September, but there is no clear information about orders for the remaining months of 2020 and 2021. </p
