As the increasingly severe COVID-19 epidemic has had a serious impact on the global economy, Vietnam’s total exports of textiles and garments in April 2020 decreased by 20% compared with March. From January to April 2020, Vietnam’s textiles, The export value of ready-made garments was US$10.64 billion, a decrease of 6.6% compared with the same period in 2019; the import value was US$6.39 billion, a decrease of 8.76% compared with the same period of 2019.
Truong Van Cam, vice chairman of the Vietnam Textile and Apparel Association (VITAS), said that garment exports were US$8.2 billion, a decrease of 5.98% compared with the same period in 2019; fiber and yarn exports decreased by 11.54% ; Nonwoven exports decreased by 22%. In terms of imports, cotton imports decreased by 7.98%; fiber and yarn imports decreased by 2.45%; fabrics decreased by 10.99%; textiles and garments decreased by 5.82% compared with the same period in 2019.
The Vietnam Textile and Apparel Association (VITAS) stated that due to the significant reduction in order demand from the European Union and the United States, the export situation of the textile industry this year is not good. The export value in the best-case scenario is forecast to be approximately US$35 billion, a 10% decrease from the same period in 2019; the export value in the worst-case scenario is only approximately US$30-31 billion.
