Vietnam textile industry eyes exports as blockades lift

Vietnam textile industry eyes exports as blockades lift

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.

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

Image Source: Pinterest

Also Read:

https://indiantextilejournal.com/latest-textile-industry-news/noida-s-apparel-exporters-getting-back-foreign-orders

https://indiantextilejournal.com/latest-textile-industry-news/japanese-brands-suffer-in-china-due-to-xinjiang-ban

 

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