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Vietnam’s Q1 textile exports turnover is recovering

Apr 29, 2021
Vietnam’s Q1 textile exports turnover is recovering

Hanoi, Vietnam

After a pandemic-caused slowdown in Vietnam’s textile export industry, the Q1 of 2021 has been moderately hopeful for the country. According to reports from Vietnam’s Ministry of Industry and Trade, the export turnover of the textile industry was estimated to be $7.2 billion in the first quarter of 2021. This was 1.1% higher over the same period.

Also, the turnover of fibre and fibre of all kinds’ exports increased to 31% and that of curtain fibres and technical fibres went up by 8.8%.

This recovery is said to be aided by the government’s effort for marketing trade promotions, commodity trade, and market search. The number of Free Trade Agreements signed by the country has also helped to remove barriers in entering new markets and prioritize export promotional activities.

Though the recovery is good for the market, the rise in the second pandemic wave is threatening to cause problems with the transportation of goods.

Source: Just-Style

Image Source: Pixabay

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