GARMENT EXPORTS DECLINE 15.5PC IN FIRST HALF OF 2020 IN VIETNAM’S

According to the Vietnam Statistics General Office, the volume of the overall Vietnamese export of textile and garment declined by 15.5% in the first half of this year, to almost $12.8 billion annually. Many of its goods were exported to the US, the EU, Japan, South Korea and China. Xinhua reported that its exportation of textiles and clothing had dropped to $2.2 billion by 23.6 percent per year alone in June.

The Association of Vietnam’s Textiles and Apparels blamed the COVID-19 pandemic ‘s dynamic developments for cutting orders and forecasting that its export incomes will decline significantly this year as global demand decreases. According to the statistics office, the country recorded export revenue of approximately US$ 32.6 billion in 2019.