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Value of Vietnam's textile and garment exports declines 15.5 per cent

  

Vietnam’s General Statistics Office says, the total value of Vietnam's textile and garment exports in the first half of this year declined 15.5 per cent year-on-year to nearly $12.8 billion. The country exported majority of its products to the United States, the European Union, Japan, South Korea and China. In June alone, its textile and garment exports tumbled by 23.6 per cent on-year to $2.2 billion, reported Xinhua.

The Vietnam Textile and Apparel Association blamed complex developments of the COVID-19 pandemic for the reductions in new orders, forecasting that export revenue this year would fall significantly amid decreasing global demand. The country had recorded an export turnover of roughly $32.6 billion in 2019, up 6.9 per cent from 2018, according to the statistics office.

 
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