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Vietnam textile industry eyes exports as blockades lift

Jun 11, 2021
Vietnam textile industry eyes exports as blockades lift

Vietnam

The importers of Vietnamese textile and garment products are opening opportunities for enterprises so as to boost production and expand the export market as the effect of the COVID-19 pandemic is subsidized.

The turnover of the textiles and garments industry has increased by 10.7% and has reached US$9.7 billion in the first four months, says the General Department of Customs. The United States is the largest importer of textile and garment products from Vietnam. It imported around $4.7 billion products in these four months.

After one year of being frozen due to the pandemic, many units have started receiving orders which is considered a positive sign for the industry. This is also an open signal for businesses to boost exports and achieve a total turnover of $39 billion. The GDP of the USA has seen a growth of 6.4%, According to the US Department of Commerce. With the removal of the blockades and removal of consumer restrictions, the countries are expecting growth in coming years.

As there is a success in controlling COVID-19, the economies of the world are recovering and this has created opportunities for the domestic textile and garment enterprises to boost their production and exports of their products. But this is not easy as the businesses still have to deal with the dual goal of preventing the spread of the virus and ensure economic development.

Source – Nhan Dan

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