Lennys shoe and apparel

Despite being the third largest export item in terms of value whilst also being a major contributor to the country’s exports for a number of years, the textile and apparel industry has been heavily influenced by the recent COVID-19 outbreak. Some of the issues the sector is facing include a shortage of raw materials, difficulties when companies attempt to export products, and drops in revenue. According to Vinatex, the first two months of the year saw the entire industry’s export turnover suffer a fall of 3% to US$5.3 billion, the first drop of its kind for five years. However as in previous years, the export turnover during the same period recorded a surge of approximately 10%. … [Read more...] about Apparel industry could suffer huge losses caused by pandemic

Workers make fabric face masks. The local apparel sector is expected to lose VND11 trillion in revenue if Covid-19, the disease caused by the coronavirus, is contained by late May and the economy recovers in June – PHOTO: VNA HCMC – The local apparel sector is expected to lose VND11 trillion in revenue if Covid-19, the disease caused by the coronavirus, is contained by late May and the economy recovers in June, Vietnam Textile and Garment Group (Vinatex) said at a teleconference on March 25. … [Read more...] about Coronavirus may cost apparel sector VND11 trillion

Viet Nam’s export value to Mexico reached $497.2 million in the first two months. Of which, many products gained high export value, including computers, electronic products and components ($133.6 million), telephones and components ($122.6 million), shoes and sandals ($47.5 million), textiles and garments ($16.3 million), machinery, equipment and other spare parts ($34.5 million), vehicles and spare parts ($35.2 million). … [Read more...] about Viet Nam gains higher exports to Canada and Mexico partly due to CPTPP

During the period from January 1 until March 15, goods with high export growth included phones and components ($10.2 billion); computers, electronic products and components ($7 billion); machinery, equipment, tools and other spare parts ($3.93 billion); seafood ($1.26 billion); textiles and garments ($5.88 billion); footwear ($3.42 billion); timber and wood products ($2.1 billion); and vehicles and spare parts ($1.76 billion). - VNS … [Read more...] about Việt Nam gains higher exports to Canada and Mexico partly due to CPTPP

Hanoi (VNS/VNA) - Vietnam has taken full advantage of the CPTPP to gain strong growth in exports to Canada and Mexico, according to the Ministry of Industry and Trade (MoIT). These are the two CPTPP (Comprehensive and Progressive Agreement for Trans-Pacific Partnership) members that have not yet signed bilateral free trade agreement (FTAs) with Vietnam. In the first two months of this year, Vietnam’s exports to Canada rose by 20.39 percent to 578 million USD year on year. With over 37 million people, a high standard of living and an urbanisation rate at 80 percent, Canada is considered a potential market for many key export items of Vietnam, including textiles, footwear, seafood, tea, pepper, cashew nut, coffee and wooden furniture. During the first two months, textile and apparel export value reached more than 100 million USD, up 5.86 percent year on year. The export value of mobile phones and accessories surged by 104.22 percent to 122.09 million USD compared to the same … [Read more...] about Vietnam gains higher exports to Canada, Mexico partly due to CPTPP