The textile and garment sector has predicted that difficulties will remain for its exports in the first half of 2023, but there are also silver linings it can pin hopes on.
Vietnam’s textile and garment export turnover to Indonesia reached 10.057 million USD in September 2022, more than four times that of the previous month.
The garment-textile industry enjoyed a rosy year in 2022 despite formidable challenges, as its export revenue hit the set target of 44 billion USD, up 8.8% year-on-year.
The Trade Office and Embassy of Vietnam opened the country’s pavilion at Intex South Asia, an international textile sourcing show held in New Delhi on December 8.
Enterprises in the textile, garment and footwear industries are facing difficulties on a variety of fronts, including a reduction in export orders, and the plight is likely to continue until the first half of next year.
A multimedia exhibition is being held in Brussels, Belgium, to celebrate the 45th founding anniversary of relations between the European Union (EU) and the Association of Southeast Asian Nations (ASEAN), with its highlight being a community project named “Weaving the Ocean”.
The Vietnam Textile and Apparel Association (VITAS) has set a goal of helping Vietnam's textile and garment industry be more environmentally friendly by 2030.
The Vietnam Textile and Apparel Association expects signs of prosperity in 2023, forecasting that the number of exports will continue to grow stronger.
The Vietnam Trade Office in Australia has introduced high-quality Vietnamese garment and textile products at a recent exhibition, which was part of the International Sourcing Expo Australia.
There remain difficulties for enterprises in the last months of this year, requiring them to be proactive and flexible to finish the year with strong export performance.
Vietnam exported 4.94 billion USD worth of goods to Cambodia in the first 10 months of this year, up 25.6% year on year, higher than the figure recorded in the whole 2021, according to the General Department of Vietnam Customs.
An official has advised businesses to adopt green practices to secure sustainable growth in textile and garment export to Canada, where Vietnam ranks second among the exporters of such products.
Although Vietnam enjoyed a high trade surplus in the first nine months of this year, numerous difficulties and challenges lie ahead for export activities in the rest of the year, while many large exporters are showing signs of staying still.
Enterprises in the textile, garment and footwear industries are facing a decrease in orders through the rest of this year and possibly into the next year.
Sustainable cotton production will drive continuous improvement of the garment and textile industry's key indicators for sustainable development, according to experts.
Hanoi’s firms operating in the supporting industry are developing strongly, reflected through the continuous increases in the number of businesses, their scale and quality. However, according to economists, the capital city still needs specific policies to make the sector grow further.
Business
