Vietnam’s garment exports down 10.3pc in first nine months

HANOI (XINHUA) – 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 USD22.1 billion, according to the General Statistics Office yesterday.

Its largest export markets included China, Japan, South Korea, the European Union (EU) and the United States (US). In September alone, Vietnam’s textile and garment exports fell 1.3 per cent year-on-year to USD2.8 billion.

The garment and textile sector is among the sectors hardest hit by the COVID-19 pandemic, along with tourism and aviation, according to a recent report by Bao Dau Tu (Vietnam Investment Review) newspaper.

At this point of time in previous years, the textile and garment businesses would have received orders for the rest of the year. However, due to the decreasing demand amid the coronavirus pandemic, they were receiving orders only on a monthly or weekly basis, the report said.

There has so far been almost no export orders for high-value products like high-end shirts and suits for the fourth quarter, according to the report.

As one of the world’s biggest garment and textile exporters and producers, Vietnam recorded an export turnover of roughly USD32.6 billion in 2019, up 6.9 per cent from 2018, according to the statistics office.