Vietnam's garment exports down 9.3 pct in 10 months

November 4, 2020

Vietnam's total textile and garment export value in the first 10 months of this year declined 9.3 percent year on year to nearly 24.8 billion U.S. dollars, according to the General Statistics Office on Tuesday.

Its largest export markets included China, Japan, the European Union, South Korea and the United States. In October alone, Vietnam's textile and garment exports fell 3.2 percent year on year to 2.6 billion U.S. dollars.

Vietnam will gain an estimate of 32 billion U.S. dollars from exporting garments and textiles this year, compared to the target of 40 billion U.S. dollars, local newspaper Lao Dong (Labor) cited the Vietnam Textile and Apparel Association as reporting on Tuesday.

The COVID-19 pandemic caused dual damages to the garment and textile sector of Vietnam as it disrupted material supplies and decreased global demand, the association said.

As one of the world's biggest garment and textile exporters and producers, Vietnam recorded an export turnover of roughly 32.6 billion U.S. dollars in 2019, up 6.9 percent from 2018, according to the statistics office.