Views: 100 Author: Site Editor Publish Time: 2024-07-27 Origin: Site
The Voice of Vietnam reported that Vietnam's textile and garment orders are abundant, and exports are expected to grow by 8-10% this year, it is worth noting that Vietnam has surpassed China in terms of market share of apparel exports in the United States, ranking first, and the highest growth rate among the world's top three textile exporters.
After the epidemic, Vietnam's textile and garment exports have prospered despite numerous difficulties and challenges. According to the statistics of the Vietnam Textile and Garment Group (Vinatex), in the first six months of 2024, Vietnam's textile and garment exports exceeded 16 billion US dollars, ranking at the forefront of all industries in Vietnam. Enough export orders have been signed by the end of the fourth quarter of this year, and even by the first quarter of 2025.
Compared with the same period in 2023, there are more orders in early 2024 and the order time is longer. Most garment companies of Vietnam Textile and Garment Group have enough orders by the end of the year and are negotiating orders for early 2025. In the first six months of 2024, textile exports earned foreign exchange of about 16 billion US dollars, an increase of 3.1% compared with the same period last year.
Mr. Cao Huu Hieu, General Manager of the Vietnam Textile Group (Vinatex), commented that the outlook for textile and apparel this year is brighter than 2023. But unit prices are still generally low, with many products falling by 20 per cent and some by 20 per cent. As a result of the new price level established from 2023, the unit price of products has even been reduced by up to 50% compared to before the pandemic.
Mr. Hieu: "The market is developing very fast and unpredictable, especially geopolitical conflicts in many regions. However, based on the available results, order signals from the garment, yarn and textile printing and dyeing industries, the export value of Vietnam's textile and textile industry is expected to grow by 8-10% compared to 2023. Growth of 5 percent in the first six months of this year is a more positive signal from the market, and production and operating performance will be better in the past few months."
At present, many textile and garment enterprises in Vietnam are actively increasing production capacity and improving skills, and the production mode has shifted from single processing to independent raw material sources, independent design and independent completion of products. Enterprises make full use of market opportunities, find technical difficulty, small order volume... But high value-added products to produce, rather than cheap, hard-to-compete mass products.
At the same time, enterprises regularly monitor, update and forecast market information, develop possible scenarios and make appropriate plans for production and business activities.
"The market has returned, orders have returned, the global playground has been fully opened, and the Vietnamese textile and garment industry will unfold according to the market, according to trade agreements." I am confident that the growth of the textile and garment industry will meet expectations in 2024." Mr. Vu Duc Giang, Chairman of the Vietnam Textile and Garment Association (Vitas), shared, but at the same time, Mr. Vu Duc Giang also acknowledged that there are still many new challenges facing Vietnamese companies. At present, many textile and garment enterprises in Vietnam are actively improving production capacity and skills.
In order to participate in the supply chain, textile companies need to change their production strategies by improving processes, innovating machinery, technology, and applying automation to the production stage.
In addition to reducing costs and shortening production times, textile companies must also focus on selecting environmentally friendly, recyclable materials in line with the trend of circular economy. Clothing enterprises are faced with a series of difficulties in applying the extended producer responsibility mechanism in waste management. The carbon boundary adjustment mechanism and the strategy of replacing "sustainable Fashion Fast pages" with "sustainable fashion", the German supply chain assessment method...
Jiangsu Lenado Intelligent Equipment Co., Ltd. continues to strengthen internal collaboration, jointly promote technology upgrading, product iteration, promote the establishment of new standards for textile machinery, enhance the competitiveness of Lenado integrated brand, supplement the chain of intelligent textile industry chain, achieve integrated market promotion, and jointly help the rapid development of Lenado intelligent equipment industry.
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