The export turnover of garment and textile products reached $5.3 bn in the first two months of 2020, down 3.5 percent year-on-year. Of the total, $4.2 bn came from the shipment of clothes and $512 mn from yarn, down 2.3 percent and 16 percent, respectively, according to the Vietnam Textile and Apparel Association (VINATEX). At present, the supply of raw materials basically meets production demand in March and April.
However, the sector is facing a lot of difficulties, as the world economy is affected seriously by the coronavirus disease (COVID-19), resulting in a decrease in global demand. Vietnam’s garment and textile exports fetched $39 bn in 2019, up 7.55 percent over the previous year but $1 bn lower than the target. In 2020, the industry aims to achieve an export turnover of about $42 bn.