Vietnam National Textile and Garment Group (Vinasdfssdfstex) said that Vietnam\u2019s exports will still face difficulties in the first half of 2023, but not too bad; and is still surprised by the unpredictable changes in 2011 , such as: the Russia-Ukraine conflict, as well as soaring oil prices, inflation, and interest rates, all of which have led to a sharp decline in import market demand. <\/p>\n
However, Vinasdfssdfstex estimates that its overall revenue in 2011 will exceed VND1.95 trillion (approximately US$830 million), an increase of 15% over the same period in 2021, which is more than the original target 8%, and the overall profit exceeded VND1 trillion, 14.6% higher than the original target. With many markets slowing down, the above data is quite encouraging. <\/p>\n
Vinasdfssdfstex President LeTien Truong proposed three possible situations in 2023. In the best case scenario, the global economy will stabilize after the second quarter and geopolitical conflicts will end; the group’s exports will grow by 4-5% compared with 2011. In the medium case, instability continues, inflation remains, and interest rates continue to increase until the third quarter; its exports will remain unchanged compared with 2011. In the worst-case scenario, if the global economy slips into recession, trade revenue in 2023 may be about 5% lower than in 2011. <\/p>\n
According to the Vietnam Textile and Apparel Association (VITAS) forecast, Vietnam’s export value will reach 44.5 billion US dollars in 2011, an increase of 10% compared with 2021. <\/p>\n
Vinasdfssdfstex pointed out that under optimistic circumstances, textile and clothing exports can reach 47-48 billion US dollars in 2023, and in the worst-case scenario, it can reach 45-46 billion US dollars; and added, How an enterprise adapts to market changes will affect its development in each scenario. <\/p>\n
Under optimistic conditions, global market instability will be controlled, and all economic activities in the textile and apparel industry will resume after the first quarter of 2023; trade income can amounted to US$48 billion. <\/p>\n
However, VITAS Chairman Wu Dejiang said that in the second scenario, the global market will recover in the second half of 2023, and exports are estimated to reach US$45 billion. <\/p>\n
At present, if there are no long-term orders for textile and apparel products in the international market, companies can switch to producing lower-value products; in 2011, with its diversified market and products, the growth trend can still be seen. <\/p>\n
No matter which scenario it falls into, the textile and apparel market shows no signs of rebounding before the first half of 2023. <\/p>\n
However, experts believe that there is still good news in 2023, such as: the new crown epidemic is being controlled, the world is gradually adapting to the new normal, and the Asia-Pacific region is expected to become the fastest growing region , China will relax epidemic prevention policies, logistics costs will be reduced, etc. <\/p<\/p>\n","protected":false},"excerpt":{"rendered":"
Vietnam National Textile and Garment Group (Vinasdfssdfstex) said that Vietnam\u2019s exports will still face difficulties in the first half of 2023, but not too bad; and is still surpr…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[46],"class_list":["post-3022","post","type-post","status-publish","format-standard","hentry","category-textile-fabric-news","tag-db"],"_links":{"self":[{"href":"https:\/\/www.textile-fabric.com\/index.php?rest_route=\/wp\/v2\/posts\/3022","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.textile-fabric.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.textile-fabric.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.textile-fabric.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.textile-fabric.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3022"}],"version-history":[{"count":0,"href":"https:\/\/www.textile-fabric.com\/index.php?rest_route=\/wp\/v2\/posts\/3022\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.textile-fabric.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3022"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.textile-fabric.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3022"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.textile-fabric.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3022"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}