Category: Garments and Textiles

Vietnam’s garment and textile exports fell by 26.5 percent in September over August from US$4.1 billion to US$2.98 billion. Vietnam’s garment and textile exports for the year now stand at US$27.3 billion which represents an increase of 8.9 percent over the same period last year…

Vietnam’s garment and textile exports climbed by 9.1 percent in August over July from US$3.7 billion to US$4.1 billion. Vietnam’s garment and textile exports for the year now stand at US$24.4 billion which represents an increase of 8.1 percent over the same period last year.

Of note, it is not unusual for Vietnamese firms to hold out for as long as possible, grasping at straws to stay afloat under the belief that the ship will right itself if they can hold out just a little longer. Furthermore, it is not unusual for them to be allowed to do so, with a firm not considered insolvent until its debts are over 90 days past due, but even then they can often continue to trade for quite a while longer.

Notably, Vietnam’s textile and garment industry experienced strong growth in the first six months of 2024. In the first half of 2024, Vietnam’s textile and garment exports reached approximately US$16.5 billion, an increase of 4.6 percent over the same period in 2023. However, the improvement in Vietnam’s textile and garment exports does not seem to necessarily stem from improved global demand but from a shift of orders from other countries to Vietnam… 

Of note, last year was not a good year for garment manufacturers and clothing suppliers in Vietnam. This was mostly on the back of lower demand in key export markets as a result of higher inflation from higher fuel costs. The response to this has been mostly supply side stimulus. Tax and interest rate cuts have been common but the impact of these measures has been limited without the demand to support them. By the end of November 2023 exports of garments and textiles from Vietnam were hovering at US$30.4 billion, a drop of 12.3 percent over the same period in 2022…

Garmex Saigon, which once had 3,700 workers on its payroll, had just 35 staff at the end of 2023, has started selling assets to cover losses, Tuoi Tre is reporting. This is after failing to secure any new orders for the firm in the fourth quarter of last year. Other

The year 2023, was the most difficult year in 30 years for the textile and garment industry in 30 years, according to Le Tien Truong, vice chairman of the Vietnam National Textile and Garment Group, and reported by Vietnam News. Key takeaways Garment and textile turnover dropped by 10 percent

VN Express is carrying a feature on the garment sector focused on the gap between the levels of success experienced by local firms versus foreign-invested enterprises. It carries a number of key points regarding the challenges the sector currently faces. These include: There is an overemphasis in Vietnam on new

The 3,700 workers Garmex Saigon Corporation had in 2021 was whittled down to 1,900 workers last year, and this year has dropped to just 37 on lower demand for Vietnamese garments, Dan Tri is reporting.  Why it matters: Layoffs have been common throughout the industry this year and attributed mostly

Green textile and garment manufacturing regulations introduced in the US this year have created problems for 80 percent of Vietnamese textile and garment exporters, Saigon Giai Phong is reporting. Similar regulations in the EU, require garment and textile imports to meet ecological design criteria, which have seen 90 percent of