Vietnam’s textile and apparel market is expected to recover in the third quarter

Vietnam News Agency reported on April 10, 2023 that the Vietnam Textile and Apparel Association stated that Vietnam’s textile and apparel exports in March 2023 reached approximately US$3.298 billion, a month-on-month increase of 18.11%, and a year-on-year increase of 18.11%. down 12.91%. In the first three months of 2023, Vietnam’s textile and apparel exports reached US$8.701 billion, a year-on-year decrease of 18.63%.

It is expected that textile and apparel companies will still face many difficulties in the second quarter. Due to the sharp decline in purchasing power in markets such as the United States and the European Union, many companies did not receive any new orders in April. .

It is expected that from July to August 2023, with the growth of corporate orders, Vietnam’s textile and apparel market will recover strongly.

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