Vietnam’s “Youth News” reported on July 28 that on July 27, Pham Chung Cheng, executive president of Vietnam Textile and Garment Group (Vinatex), attended the “2022 Textile and Garment Industry Industry-Equipment and Raw Materials” At the opening ceremony of the “International Exhibition of Accessories”, it was stated that due to the decline in international market demand caused by various reasons such as inflation and political instability in some countries, Vietnam’s textile and garment industry will face many difficulties in the first few months of the year. At the same time, in addition to the sharp drop in cotton prices, the prices of other raw and auxiliary materials in the clothing industry continue to rise due to transportation factors. Some distributors are building large backlogs of goods and are faced with both overstocking and declining sales. Manufacturers also have to face the difficulty of rising raw material prices in the context of declining purchasing power.
Pham Xuan Hong, chairman of the Ho Chi Minh City Textile, Garment and Embroidery and Weaving Association, said that the textile and garment industry has seen a downward trend in sales in the United States and Europe due to tensions between Russia and Ukraine and rising inflation, and many customers have postponed When ordering, you are likely to face many challenges.
The Vietnam Textile and Apparel Association stated that the goal proposed by the textile and apparel industry is: export volume will reach 42-43 billion US dollars in 2022, and exports of 220 million US dollars have been achieved in the first six months of this year. One hundred million U.S. dollars.
