Vietnam'S Textile And Clothing Exports Decreased By 11.7% From January To July

According to the information provided by Vietnam cotton yarn Association, Vietnam's cotton import volume in July 2020 was 1211000 tons, with a month on month increase of 2.6%. From January to July, the cumulative import of cotton was 1.4409 million tons, a year-on-year decrease of 4.4%. In July, the import volume of fiber and yarn was 84800 tons, with a month on month increase of 12.2%. From January to July, the total import volume was 564200 tons, a decrease of 10% year-on-year.

In July, Vietnam's yarn export volume was 153600 tons, up 20.8% month on month. The export volume decreased by 0.88-7 million tons. In July, the export volume of textiles and clothing reached 3.04 billion US dollars, up 16.9% month on month. From January to July, the total export volume was 16.25 billion US dollars, a year-on-year decrease of 11.7%.

Considering the impact of the epidemic situation and uncertain factors such as Sino US trade relations, the Vietnam cotton yarn Association predicts that Vietnam's textile and clothing export volume will decrease by 10-15% to 33.6-36 billion US dollars in 2020. In July, Vietnam's export orders for high value-added products were scarce, and many weaving enterprises had no orders for high-value-added products for two quarters.

Due to the limited capacity of the domestic textile consumer market, the process of Vietnam's textile and clothing export to domestic sales is also very difficult. The association predicts that the clothing consumption growth in Vietnam will not exceed 5% in 2020, and the total market volume will be between us $200 million and US $250 million, which will not be able to digest the products transferred from export to domestic sales.