Vietnam'S Textile And Clothing Production And Export Are Facing Difficulties.

According to Vietnam's Ministry of industry and trade, many products of Vietnam garment factories have a large market in the United States, but over the past few months, overseas buyers have been delaying the procurement of Vietnamese products.

Although the United States impose tariffs on Chinese products, China is still the largest source of textile imports in the United States. China's textile industry has huge production capacity, and its products have room for price reduction, while Vietnam and India have small industrial scale and continuous production costs. The uncertainty of US trade policy forced buyers to delay purchases from Vietnam.

At the same time, China's continued cotton production has reduced the production costs of textile mills, while Vietnamese products are facing fierce competition. In order to avoid backlog, Vietnam's currency has been showing signs of devaluation. South Korea, Japan, Egypt, Turkey, Philippines, Taiwan and other markets still have orders, but the number is very small, and prices are also falling.

In the medium to long term, the trade deficit between the United States and Vietnam will continue to expand, and Vietnam's textile and clothing export prospects are not optimistic. Moreover, as textile production begins to shift to Vietnam, garment factories compete fiercely for recruitment, resulting in rising labor costs. Compared with China and India, Vietnam can neither depreciate the currency nor produce its own chemical fiber products. Therefore, the export of Vietnamese yarn is facing difficulties.