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Tuesday, 06 October 2020 14:12

Vietnam textile and garment export value declines by 10.3%

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As per the General Statistics Office, Vietnam's total textile and garment export value in the first nine months of this year declined 10.3 per cent year on year to around $22.1 billion. Its largest export markets during this period included China, Japan, South Korea, the European Union and the United States. In September alone, Vietnam's textile and garment exports declined by 1.3 percent year on year to $2.8 billion.

As per a report in the local Bao Dau Tu newspaper, the garment and textile sector in Vietnam is among the sectors hardest hit by the pandemic, along with tourism and aviation. Usually, during this period, textile and garment business in the country receive orders for the remaining year. However, this year, due to a decrease in demand, they have received orders only on monthly or weekly basis. So far, there have been no orders for high-value products like high-end shirts and suits for the fourth quarter.

One of the world's biggest garment and textile exporters and producers, Vietnam recorded a 6.9 per cent increase in export turnover to roughly $32.6 billion in 2019, reveals the statistics office.