Vietnam's garment exports decline 15.5pc in first half
Vietnam's total textile and garment export value in the first half of this year declined by 15.5 per cent year-on-year to nearly 12.8 billion US dollars, according to the country's General Statistics Office on Monday.
Its largest export markets included the United States, the European Union, Japan, South Korea and China. In June alone, Vietnam's textile and garment exports tumbled by 23.6 per cent on-year to $2.2 billion, reports Xinhua.
Complex developments of the Covid-19 pandemic were blamed for the reductions in new orders, the Vietnam Textile and Apparel Association said, forecasting that export revenue this year would fall significantly amid decreasing global demand.
Vietnam, among the world's biggest exporters and producers of garments and textiles, made garment and textile export turnovers of roughly $32.6 billion in 2019, up 6.9 per cent from 2018, according to the statistics office.