According to Vietnam’s “Investment Online” report on August 19, Vietnam’s textile and apparel exports in the first half of this year surpassed Bangladesh with a total export volume of US$13 billion, which was less than US$12 billion, becoming second only to Bangladesh. China is the second largest textile and apparel exporter.
Despite the sharp decline in exports due to the severe impact of the new coronavirus epidemic, in the first half of this year, data from the Bangladesh Export Promotion Agency showed that Bangladesh’s garment exports in the first half of the year reached 22.92 billion U.S. dollars, and Vietnam’s exports in the first half of the year were 13.18 billion U.S. dollars. In the first seven months, although Vietnam’s textile and apparel exports fell by 12.1%, they still amounted to US$16.2 billion.
MohasdfssdfsmmasdfssdfsdHasdfssdfstem, Vice Chairman of the Bangladesh Textile and Apparel Manufacturers and Exporters Association (BKMEA) said: “The effectiveness of Vietnam’s epidemic prevention and control work is better. , the country’s textile and apparel industry has not been interrupted.”
In the past six months, as Vietnam has not suspended production due to the implementation of community quarantine like China and Bangladesh, Vietnam has Textile and apparel market share has increased in the United States and the European Union. Leaders of the Vietnam Textile and Apparel Association (VITAS) said that amid the overall decline in the global textile and apparel industry, Vietnam’s decline was only 12-14%, which is still a bright spot. Bangladesh and India both fell by 23% in the first half of this year.
However, the epidemic still has a negative impact on the global textile and apparel industry, so the Vietnamese textile and apparel industry is not optimistic either. The first half of the year was not the most difficult period, as economic and trade exchanges continued and the number of infection cases was not as high as it is now.
Compared with the current time when the global epidemic is out of control, employment has not yet recovered, funds in various countries are on the verge of drying up, and consumer demand is declining, the impact on Vietnam in the third and fourth quarters of 2020 This is a real challenge for the textile and apparel industry. </p
