Vietnam'S Textile And Apparel Industry Is Facing A Crisis Of Short Orders.
Vietnam's Ministry of industry and Commerce said that despite Vietnam
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The monthly export volume of garment industry is as high as 1 billion US dollars, but because of the unstable economy and tight consumption of the US and European Union, the industry is facing a crisis of short orders.
The vice president of Vietnam Textile Association believes that the Vietnamese textile and garment industry's orders from the US and the European Union will be reduced by 10-15% in the fourth quarter of this year (2011).
According to statistics, Vietnamese textile clothing (2011) exports in the first 9 months of the year reached a new high of 4 years, reaching 10 billion 500 million US dollars, and the estimated export volume of this year will reach 130-135 billion US dollars.
The amount of capital needed to import raw materials and salaries are
Vietnam?
The biggest cost pressure faced by the textile and garment industry is that the import amount of raw materials has reached US $9 billion 200 million this year.
The rising wages of workers, which account for 65% of the cost of expenditure, also cause great distress to the operators.
The Vietnamese government intends to set the textile and garment industry as a sharp export industry and is looking forward to its development.
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The production capacity of cotton cloth produces 500 thousand tons of cotton cloth every year, creating 2 million 750 thousand job opportunities.
At present, there are about 3700 manufacturers in Vietnam's textile and garment industry, which are mainly concentrated in two major cities of Hanoi and Hu Zhiming.
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