Report on Vietnam’s textile and garment industry Q3/2022
Textile fabrics
Total yarn production in Vietnam in the first 9 months of 2022 increased x% compared to the same period in 2021. In which, natural fiber production reached x thousand tons, increased x% and man-made fiber production reached x thousand tons, up x%
In the first 9 months of 2022, textile fibers and yarns of all kinds imported to Vietnam decreased by x% in volume compared to the same period in 2021, reaching only x thousand tons. However, in terms of value, the import of fiber and yarn of all kinds still increased x% compared to the first 9 months of 2021, reaching x million USD due to the increase in fiber and yarn prices.
Fabric industry
Fabric production in Vietnam in the first 9 months of 2022 decreased compared to the same period in 2021. In which, woven fabrics from natural fibers had an output of x million m2, an increase of x% over the same period and woven fabrics from artificial fiber has an output of x million m2, down x% over the same period.
In the first 9 months of 2022, Vietnam’s lychee import turnover reached x billion USD, up x% over the same period last year. The value of Vietnam’s lychee imports from the three markets of China, Taiwan and South Korea accounted for about x% of Vietnam’s total lychee import turnover in the first nine months of 2022.
Garment industry
In the first 9 months of 2022, Vietnam’s total apparel retail sales is estimated at 169.7 trillion VND, up x% over the same period in 2021.
In the first 9 months of 2022, Vietnam’s garment export turnover increased by x% over the same period last year.
T-shirts, pants, jackets are Vietnam’s main export garment products when the structure of Vietnam’s garment exports tends to focus on commodities…
Forecast of the textile industry
Inflation pressure: The pressure to control inflation increased, forcing central banks of countries such as the Fed and the ECB to raise interest rates to curb inflation. This has a significant impact on reducing consumer demand for textiles and garments, large brands will have to face demand that cannot sell products, leading to large inventories.
Exchange rate pressure: With the State Bank’s efforts to stabilize the USD/VND exchange rate, however, Vietnam still loses its competitive advantage while global demand is low.
The number of orders from export markets decreased due to high inventory: This is because the inventory of garments in the export market is still relatively high when most of the inventory of the opposite side is still high. European and American partners are essential clothing at the time of the Covid-19 outbreak, when people limit going out, now this quantity has accumulated.
Read more about Vietnam pulp and paper industry report in the quarter 2/2022: here
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1.Macroeconomics
2. Raw materials
3. Spinning
4. Textile dyeing
5. Garment
6. Distribution
7. Forecast
8. News
