Meanwhile, the import revenue of the sector reached US$11.39 billion during the six-month period, a year-on-year increase of 5.66%.

VITAS Vice Chairman Truong Van Cam said that the number of orders this year is not as satisfactory as in 2018 and textile and apparel firms are facing a shortage of orders.

The number of orders of many enterprises is only equivalent to 70% of the same period in 2018.

Cam noted that the number of orders of many enterprises is only equivalent to 70% of the same period in 2018 and the consumption of yarn and accessories is encountering a lot of difficulties.

The whole textile and garment sector has grown less than 9% in the first half of this year, requiring the sector to expand by 11-12% by the year’s end to fulfil the target of reaching an export turnover of US$40 billion in 2019, Cam added.

He said that the main reasons for the reduction in number of orders include the higher and more demanding requirements from buyers, pressure on reducing prices and increasing trade barriers such as import tariffs, quality inspection, among others.

In the January-June period, the US remained the largest export market of Vietnamese textiles and garments with Vietnam’s total export revenue to the US at US$7.22 billion, up 12.84% compared to the same period in 2018. The market accounted for 46.9% of Vietnam’s total export revenue of textiles and garments.

Vietnam also attracted approximately US$700 million worth of foreign direct investment in 63 garment and textile projects in the first five months of this year, including 17 Chinese-invested projects, 12 projects invested by the Republic of Korea, among others.

Vietnam’s textile-garment industry hopes for breakthroughs in 2019

Vietnam’s textile and garment sector is hoped to make breakthroughs in 2019 based on successes and momentum last year.

Garment-textile exports reach over 36 billion USD

 

Garment-textile export turnover sees highest growth in three years

The garment-textile sector has grossed over 36 billion USD in export turnover this year, up 16.01 percent against the previous year, heard a conference in Hanoi on December 14.

Garment-textile export to reach 35 billion USD

  

Bac Giang garment industry grasps opportunities to make breakthroughs

(BGO) - The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTTP), expected to come into force next year along with the signed free trade agreements (FTAs), has opened up opportunities for the textile and garment industry to accelerate. Many apparel businesses in Bac Giang province have actively made approach plans to increase profits.

Source: NDO