Vietnam’s textile and apparel export orders are insufficient
According to the Vietnam Communist Party Electronic News website, Vietnam’s Ministry of Industry and Trade stated that the textile, garment and cloth raw material production industries have recently shown a gradual downward trend due to reduced export orders and domestic sales. Currently, only about 10% of large enterprises have orders for the third and fourth quarters. At the same time last year, almost all enterprises had orders for the second quarter that were full. Compared with the same period last year, blended and man-made fiber cloths fell by 22% this month, and ready-made garments available for export also dropped by 10.9%. Nguyen Nam Hai, Deputy Minister of Industry and Trade of Vietnam, said that the main reasons affecting the production of the textile and garment industry this month are: increased wages and costs due to passive sources of raw materials, European fiscal policies and Japan’s reduction in consumption, which seriously affects exports.
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