According to Vietnam’s “Vietnam News” on October 8, the Vietnam Textile and Clothing Association (Vitasdfssdfss) stated that due to the impact of the epidemic, the Vietnamese textile and clothing industry may not be able to realize its production and business Target. The association believes that the last three months of this year are an extremely difficult period for the textile industry. The biggest risk is supply chain disruption as customers shift orders to other markets. Secondly, due to the large number of workers returning home to avoid the epidemic, there is a labor shortage. Therefore, it is difficult for the industry to achieve the same annual export target of US$39 billion as in 2019 before the epidemic.
According to the association, there may be three scenarios for the development prospects of the domestic garment industry this year: The most optimistic scenario is that if Vietnam controls the epidemic, it will enter the ” “New Normal”, the full-year export volume may reach about 37.5-38 billion US dollars. The second scenario is that if the epidemic continues and some localities and industrial areas are still under lockdown or quarantine before December, exports are expected to reach approximately US$36-36.5 billion. In the worst-case scenario, if the epidemic continues until early December 2021, the industry’s export volume is expected to be only US$33.5-34 billion. If the production and operation situation returns to normal next year, the textile and garment industry will strive to achieve an export turnover of US$39-42 billion.
The export turnover of the apparel industry in August fell by 15.9% month-on-month and 2.63% year-on-year. Exports in September were estimated at US$3 billion, continuing to decline by 9.2% month-on-month and 10.5% year-on-year. However, the industry still achieved a trade surplus of US$22 billion in the first nine months of this year, of which total exports were US$29 billion, a year-on-year increase of 13.2%. The total import of materials and accessories in the first nine months was approximately US$18 billion, a year-on-year increase of 27.9%. </p
