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Vietnam'S Textile And Clothing Exports Are Expected To Decline By 14-15% In 2020
It is estimated that the export revenue of Vietnam's textile and garment industry will reach US $33.5-34.0 billion in 2020, higher than the expected $30-31 billion in April, with a year-on-year decrease of 14-15%.
According to the data of Vietnam's Ministry of industry and trade, the export volume of the industry in the first 10 months of this year is estimated to be $24.76 billion, down 9.3% from the same period last year.
Vietnam's Ministry of Commerce said textile enterprises need to take measures to adjust production activities and business forms to adapt to the severe impact of the new crown epidemic.
Vietnam should also pay attention to opening up its domestic market and forming a production chain that conforms to the rules of origin stipulated in the free trade agreement signed between Vietnam and its partners, the Ministry was quoted as saying in a report.
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