Vietnam Textile And Clothing Association And Cotton International Association Of America Discuss Market Prospect

 

Vietnam textile and clothing association and us. Cotton jointly held a seminar on Sustainable cotton supply chain. Delegates at the meeting said that although the export performance of textile and clothing in the first half of 2022 is good, it is expected that both the market and the supply chain will face many challenges in the second half of 2022.

Wu Dejiang, chairman of Vietnam textile and Garment Association, said that the export volume of textile and clothing in the first six months of this year is estimated to be about 22 billion US dollars, an increase of 23% over the same period of last year. In the context of the difficulties brought about by the long-term impact of the epidemic, this figure is impressive. This result benefited from 15 effective free trade agreements, which opened up a more open market space for Vietnam's textile and clothing industry. From a country that relies heavily on imported fibers, Vietnam's yarn export will earn 5.6 billion US dollars by 2021, especially in the first six months of 2022, the yarn export volume has reached about 3 billion US dollars.

Vietnam's textile and clothing industry has also developed rapidly in terms of green and sustainable development, turning to the use of green energy, solar energy and water conservation, so as to better meet international standards and obtain high trust from customers.

However, wudejiang predicts that in the second half of 2022, there will be many unpredictable fluctuations in the world market, which will bring many challenges to the export targets of enterprises and the whole textile and garment industry.

According to Wu Dejiang analysis, the high inflation in the United States and Europe has led to a sharp rise in food prices, which will lead to a decline in the purchasing power of consumer goods; Among them, textile and clothing will decline significantly, and affect the third and fourth quarter enterprise orders. The conflict between Russia and Ukraine has not yet ended. The rising gasoline prices and shipping costs have led to the rise of production costs of enterprises, and the prices of raw materials have increased by nearly 30% compared with the past. These are the challenges faced by enterprises.

In view of the above problems, the enterprise said that it is actively paying attention to the market dynamics and adjusting the production plan in time to adapt to the actual situation. At the same time, enterprises actively transform and diversify the supply of domestic raw materials and accessories, occupy the initiative in delivery time, and save transportation costs; At the same time, regular negotiation and search for new customers and new orders to ensure stable production activities.