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.
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The $15 billion garment export sector faced a big blow as many states in India announced lockdown and restrictions on industries due to the Covid-19 pandemic.
Myanmar’s political instability, lockdown in Cambodia and a the COVID-19 situation in India has prompted international retailers and brands to divert work orders to Bangladesh. Export earnings hit $3.13 billion in April.
Pakistan?s exports of textile and clothing witnessed a decline of 2.64 per cent in July-August on a year-on-year basis.
Despite rising labour costs, RMB appreciation and lower demand from export markets, China’s textile and apparel industry are still growing at a healthy pace and looks to dominate the global apparel sector, both as a producer and a consumer for years to come.
India saw a decline in exports of woolen yarn, fabric and made-ups by 48 per cent and woolen garments by nine per cent in the first quarter of the current financial year.
Exports of textiles and garments from Sri Lanka increased by 4.5 per cent year-on-year in the first six months of this year.