Vietnam’s textile and apparel export turnover in 2020 is expected to reduce by a fifth compared to 2019 figures, according to the Vietnam National Textile and Garment Group (Vinatex), which feels the demand will recover from the third quarter.
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India ranked fifth in the global textile and clothing exports in 2018 though it was in the second position between 2014 and 2017, according to the Confederation of Indian Textile Industry.
Pakistan’s textile and clothing exports recorded a meagre 0.68 per cent year-on-year surge to $1.139 billion in December 2018, taking the six-month (July-December FY19) exports to $6.645 billion up 0.06 per cent.
After a 3-month declise in a row, ready-made garment (RMG) exports soared by 25 per cent in rupee terms and 30 per cent in dollar terms in September. But exporters say this will not be sustainable since government policies are not favourable.
As per the data available with the Government, the export of textiles and garments has shown an increase of 3.2 per cent during the last three years.
Exports from Bangladesh, particularly of garment items, will face further tariff competition in the US market if Donald Trump, the President-elect, implements his plan of border tax, one of his major campaign promises.
Vietnam’s textile and garment exports this year are estimated to reach $28.5 billion, meeting roughly 92 per cent of the set plan due to market difficulties, the Vi?t Nam Textile and Apparel Association (Vitas) reports.