Apparel / Textiles & Accessories

The latest textile and garment industry outlook report predicts that due to the deterioration of the macroeconomic situation that puts pressure on consumer spending, coupled with the continued inflation of the United States, a major international trade export market, it is expected that the international trade export of Vietnam's textile and garment industry will decline in the first half of 2023. reduce.

The latest textile and garment industry outlook report predicts that due to the deterioration of the macroeconomic situation that puts pressure on consumer spending and the continued inflation in the United States, the main export market, it is expected that Vietnam's textile and garment industry's international trade exports will shrink in the first half of 2023. Past data show that it takes 8-10 months for U.S. apparel and footwear retail sales to gradually return to normal after inflation peaks. At the same time, the congestion of shipping orders recovered faster than expected, and the volume of new orders was not adjusted in time. As a result, the import volume of US clothing and footwear international trade increased to a record high in August, putting pressure on destocking in the fourth quarter of 2022 and even the first half of 2023.

Since October 2022, the retail sales of clothing and footwear in Vietnam's major international trade export markets have experienced negative growth, indicating that the country's textile and clothing enterprises will face new challenges.