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Saturday, June 15, 2024

Vietnam’s textile exports plunge in April

The Saigon Times

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HCMC – Vietnam’s textile and garment industry generated only US$3.06 billion in export revenue in April, down 20.6% year-on-year, according to the Vietnam National Textile and Garment Group, or Vinatex.

The export value of textiles and garments in the first four months of the year reached only US$11.7 billion, down 20% over the same period last year.

There was a noticeable drop in the export value of textile and garments to major markets in April.

Particularly, the textile and garment shipments to the U.S. market totaled only US$1.15 billion, down 30% year-on-year, while the revenue from exporting products to the EU was just US$349 million, down 9%.

Meanwhile, Vietnam gained only US$237 million from exporting textile and garment products to South Korea in April, down 21%.

During the first four months of the year, textile and garment exports to the U.S. and China declined over 30%. Only exports to Japan gained 6.6% in value.

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