An important factor underpinning the growth of the textile and garment industry is the growth of the domestic supply of raw materials, which increases year over year.
According to the market analysis tool TexPro of the US website Fiber2Fashion, the figure was $2.354 million in August, $5.257 million in July, $3.801 million in June, $1.232 million in May and $2.719 million in April.
Demand for textile products slowed due to COVID-19 when consumers around the world focused on essential appliances and disease prevention and Vietnamese textile and garment enterprises faced many difficulties due to scarce orders.
The Viet Nam Textile and Garment Group (Vinatex) forecasts Viet Nam''s textile and garment exports will continue to decline by 14-18 per cent each month for the rest of 2020 over the same period last year.
Viet Nam saw a year on year reduction of 3.5 per cent in garment exports of the first two months this year to US$5.3 billion due to the impact of the novel coronavirus (COVID-19) outbreak.
Vietnamese textile and garment exports to Trans-Pacific Partnership (CPTPP) markets have failed to match the country''s stature as the world’s second largest apparel exporter.
Viet Nam expects to continue growth of textile and garment exports to South Korea by the end of the year after strong results in the first seven months of 2018, according to the General Department of Customs.
Viet Nam witnessed a growth in textile and garment exports to most of the major markets in the first five months of 2018, reported the General Department of Viet Nam Customs.