In July, Vietnam'S Clothing Exports Amounted To $930 Million.
In July, Vietnam's clothing export revenue reached $930 million, leading to a record $5 billion 100 million in exports in the first 7 months of this year, up 20.5% from the same period last year.
Li Guoan, President of the Vietnam textile and clothing association (Vitas), said: "7-9 months, it is a harvest for the clothing sector.
With the good prospects for July, there will be positive prospects for the next two months. By the end of this year, the export volume of the textile and garment industry is expected to reach US $9 billion 500 million.
However, the textile and garment industries must deal with licensing difficulties, such as high inflation, high commercial lending rates, expensive raw materials, strikes and resignations, and other factors.
In addition, the textile and clothing sector relies entirely on major markets, such as the United States (controlling 55% share), the European Union (17% market share) and Japan (8% of the market share), which is vulnerable to the impact of unexpected market fluctuations.
To shift this risk, industry experts recommend exporters to look for other markets, such as the Middle East and South Africa.
Vietnam textile and clothing association also advises garment manufacturers not to ignore regional markets, such as South Korea, Singapore and Taiwan.
Li Guoan said he witnessed the sale of Vietnamese made garments to the Asia Pacific region. Despite the fact that sales are still small, garment manufacturers should make efforts to increase exports to small markets in the current environment.
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