Vietnam'S Textile And Garment Export Is Expected To Return To The Level Before The Epidemic In 2021

Vietnam National Textile and Garment Group estimates that the export volume of Vietnam's textile and clothing will reach 38-39 billion US dollars in 2021. According to the group's analysis, due to the low efficiency of the textile industry in recent year, it may be difficult for Vietnamese textile and garment enterprises to obtain loans. All enterprises hope that the government will provide special incentive policies to support the industry.

At present, the Vietnamese government has reduced non productive costs, especially logistics services and other non-tariff costs. Vietnam's Ministry of industry and trade has also helped the textile industry maximize the new FTA. In 2020, Vietnam is the only one of the world's top five textile and garment exporters that has not stopped production.

Although Vietnam's textile and clothing exports in 2020 were only US $35 billion, far lower than US $39 billion in 2019, the performance was still very good, as global demand fell by more than 22%. It is reported that Vietnam's textile and clothing industry has taken a series of measures to cope with the crisis, which has saved more than 4 million employment force in the textile industry.