According to the Vietnam Ministry of Industry and Commerce’s survey statistics on Vietnam’s textile industry, as of July 31, 2020, some textile companies in Vietnam have still not received orders for suits and high-end shirts from foreign customers in the second half of the year. As for medical masks and protective clothing, they are currently the main production items of Vietnam’s textile industry. However, due to the large number of manufacturers supplying these items around the world, the sales prices have gradually dropped.
According to statistics from the Vietnam Ministry of Industry and Commerce, the export volume of various yarns in the first seven months of 2020 decreased by 20.9% compared with the same period in 2019; fabrics decreased by 40%; processed textiles decreased by 12.1% %. The Ministry reminded that in the second half of 2020, Vietnamese textile companies will need to strengthen the development of Vietnam’s domestic market and reduce production management expenses to make up for the company’s revenue, while maintaining product quality, resetting production lines and manpower deployment and other measures to survive the new coronavirus epidemic. Influence.
In addition, according to estimates from Vietnam Textile Group (Vinasdfssdfstex), the value of textile exports in the second half of 2020 will decrease by 14-18% compared with the same period in 2019. It is estimated that textiles in 2020 will Total exports were approximately US$32.75 billion, a 16% decrease from 2019. </p
