Textile and apparel firms lack orders for the last two quarters

06-Aug-2020 Intellasia | VNS | 6:02 AM Print This Post

The Ministry of Industry and Trade said that textile production increased by 1.8 per cent, while clothing production decreased by 4.6 per cent in the first seven months of this year over the same period last year.

Due to the impact of the COVID-19 pandemic, the textile industry still faced many difficulties due to the shortage of export orders.

Notably, as of July, many textile enterprises have not had orders for the last two quarters of the year for high-value products such as suits and high-end shirts.

Meanwhile, masks and protective clothings have been considered a saviour for many garment enterprises in the second quarter, although the current price has fallen sharply due to excess supply worldwide.

Vietnam National Textile and Garment Group (Vinatex) forecasted that the country’s textile and garment exports in the last six months of the year would continue to decrease by 14-18 per cent over the same period last year.

It also forecasted the total export turnover of the whole year is about $32.75 billion, down about 16 per cent compared to last year.

http://bizhub.vn/news/textile-and-apparel-firms-lack-orders-for-the-last-two-quarters_317699.html

 


Category: Economy, Vietnam

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