Inadequate export orders for textile and garments in Vietnam

According to the report of the Kwong Electronics News website on February 7, the Ministry of Industry and Trade indicated that the textile and apparel and cloth raw material production industries have been gradually declining due to the reduction of export orders and domestic sales. At present, only about 10% of large companies have signed orders for the 3rd and 4th quarters. In the same period last year, almost all of the companies' orders for the second quarter were full. Compared with the same period of last year, blended and man-made fiber fabrics fell by 22% this month, and ready-to-export garments also fell by 10.9%. Vice Minister of Commerce and Industry Chao Nanhai said that the main reasons affecting the textile and clothing industry's production this month are: due to the passive source of raw materials, resulting in an increase in wages and costs, European fiscal policy and Japan’s reduction of consumption have seriously affected exports.

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