According to Vietnam’s “Vietnam Express” report on June 10, China will become a large consumer of Vietnamese textiles when major markets such as Japan and the European Union are unstable.
This conclusion was put forward by Vietnam Textile Group (Vinasdfssdfstex) in the document of the 2021 General Meeting of Shareholders recently announced. The reason is that according to the “14th Five-Year Plan”, China does not Then focus on clothing production.
First-quarter data show that Vietnam’s textile exports to China grew the fastest among the five major markets, and the export volume was equivalent to that of the European Union. Currently, due to the unpredictable global COVID-19 epidemic situation, Vietnam’s traditional export market of textile and clothing “remains unstable.” As major export markets still face challenges, China is expected to become the main consumer of Vietnamese textiles and clothing.
For example, the EU and Japanese markets are still facing challenges, Europe is facing the risk of another epidemic outbreak, and the Japanese economy has not yet recovered. Therefore, Vietnam’s textile and apparel exports to these two markets are unlikely to grow as before this year. </p
