The production & export situation in May improved compared to the previous month, although it still fell deeply compared to the same period last year. In which, exports of garments and textile yarns increased significantly. Exports of footwear and bags have improved but not significantly. However, in general, enterprises in the industry still lack orders, and it is expected to last much longer than the forecast at the beginning of the year.
Accumulated 5M/2023, the export value of Textiles and garments still decreased by 17.5%, Footwear decreased by 13.9% over the same period. In particular, for garments, orders still decreased in many product groups, except for shirts, waistcoats, labor protection clothes, cotton towels & Islamic clothing. Within each product group, orders decreased in both the high-end and mid-low segments.
In addition to the reduced purchasing power factor, the trend of small orders, and urgent orders leads to the trend of sourcing closer to shorten delivery times even though production costs may be higher. This reduces the demand for orders from Asia for the US and Europe regions.
TABLE OF CONTENTS
A. GENERAL PERCEPTION
Industry trade balance
Structure of export commodity groups & monthly movements
Export market structure & monthly movements
Proportion & export growth of the FDI sector
Commodity structure & import market
C. DETAILS OF EXPORTS OF EACH ITEM
Textile and Garment
Yarn & Textile
Handbag, Wallet, Hat
Raw material & Fabric blind, Technical fabric
[VI] TEXTILE AND GARMENT & FOOTWEAR INDUSTRY REPORT - JUN 2023
Number of pages: 38 pages
Data series: Last 13 months
Release date: Jun 20, 2023