The textile-clothing sector targets 47 billion USD in exports in 2023
Vietnam’s textile-clothing sector is striving to reach USD 47 billion in exports this year. Many companies received orders until the end of the first quarter, ensuring stable jobs for their employees.
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However, the total global demand for textile products in 2023 is forecast to decline by around 5% from 2022 to nearly USD 700 billion, which is expected to affect Vietnamese exports.
| It is necessary to continue to call for investments in raw material supply to solve the shortage. |
| Photo : VNA/CVN |
In addition, there are many difficulties regarding cotton. Production increased but consumption decreased, leading to a drop in the price of cotton.
According to Vinatex General Manager Cao Huu Hieu, clear and precise identification of difficulties will help companies to take proactive measures and not be confused by market fluctuations.
As for the chairman of the Association of Textile and Clothing of Vietnam (Vitas), Vu Duc Giang, he insisted on the need to continue to call for investments in the supply of raw materials to solve the shortage, to develop sales and design solutions, strengthen automation and digital governance, improve the quality of human resources, etc.
VNA/CVN