abusesaffiliationarrow-downarrow-leftarrow-rightarrow-upattack-typeburgerchevron-downchevron-leftchevron-rightchevron-upClock iconclosedeletedevelopment-povertydiscriminationdollardownloademailenvironmentexternal-linkfacebookfiltergenderglobegroupshealthC4067174-3DD9-4B9E-AD64-284FDAAE6338@1xinformation-outlineinformationinstagraminvestment-trade-globalisationissueslabourlanguagesShapeCombined Shapeline, chart, up, arrow, graphLinkedInlocationmap-pinminusnewsorganisationotheroverviewpluspreviewArtboard 185profilerefreshIconnewssearchsecurityPathStock downStock steadyStock uptagticktooltiptwitteruniversalityweb

Diese Seite ist nicht auf Deutsch verfügbar und wird angezeigt auf English

Artikel

24 Okt 2022

Autor:
VietnamPlus

Vietnam: Apparel orders decline by 25-50% in fourth quarter

"Textile and garment sector bears the brunt of global uncertainties", 24 October 2022

Textile and garment businesses are facing pressure due to weaker purchasing power caused by mounting inflation and other global uncertainties.

Textile and garment exports in September dropped by nearly 1.2 billion USD, or 27%, from the previous month, to 3.2 billion USD. Sharp export declines were recorded in the US, Europe, Japan, the Republic of Korea (RoK), and China, according to the General Statistics Office.

The SSI Securities Corporation said the number of orders placed for the fourth quarter of 2022 fell by 25-50% from the second quarter, when orders increased strongly, because the unsold inventory in import markets is high at present.

Many companies have received orders to be delivered in the first quarter of 2023, but the order number is still much below their capacity, SSI noted.

It added the enterprises whose buyers are mainly in the US and Europe will be hit harder compared to those exporting to Japan and the RoK.

Aside from inflation, fluctuations in material prices are also a problem.

Le Tien Truong, Chairman of the Vietnam National Textile and Garment Group (Vinatex), said there are uncertainties running up to the end of the year, especially the Russia-Ukraine conflict and material price fluctuations...

Another challenge is foreign exchange rates, according to analysts.

Nguyen Duc Hao, a specialist from the VNDirect Securities Corporation, said the euro has continually depreciated as a result of recession concerns due to Russia’s threat to reduce gas supplies for many European countries, adding that businesses could suffer from lower profits, even losses.

Echoing the view, SSI held that most textile and garment companies earn revenue in the US dollar, but many of their costs such as materials, logistics and lending are also calculated in the greenback...

Zeitleiste

Informationen zum Datenschutz

Diese Website verwendet Cookies und andere Web-Speichertechnologien. Sie können Ihre Datenschutzeinstellungen unten festlegen. Die Änderungen werden sofort wirksam.

Weitere Informationen über unsere Nutzung von Webspeicherung finden Sie in unserer Richtlinie zur Datennutzung und Cookies

Strictly necessary storage

ON
OFF

Necessary storage enables core site functionality. This site cannot function without it, so it can only be disabled by changing settings in your browser.

Analytics-Cookie

ON
OFF

When you access our website we use Google Analytics to collect information on your visit. Accepting this cookie will allow us to understand more details about your journey, and improve how we surface information. All analytics information is anonymous and we do not use it to identify you. Google provides a Google Analytics opt-out add on for all popular browsers.

Promotional cookies

ON
OFF

We share news and updates on business and human rights through third party platforms, including social media and search engines. These cookies help us to understand the performance of these promotions.

Ihre Privatsphäre-Einstellungen für diese Website

Diese Website verwendet Cookies und andere Web-Speichertechnologien, um Ihre Erfahrung über die notwendigen Kernfunktionen hinaus zu verbessern.