(1) Vietnam’s textile and garment exports in the first 10 months of 2020 totaled approximately US$24.76 billion
According to the Ministry of Industry and Commerce of Vietnam, Vietnam’s textile and garment exports in the first 10 months of 2020 totaled US$24.76 billion. The U.S. dollar fell by 9.3% compared with the same period in 2019. 2020 will be a particularly difficult year for Vietnam’s textile and garment industry, which will find it difficult to achieve this year’s original target of US$42 billion. In the future, Vietnam’s Ministry of Industry and Commerce should adopt new measures to change production and operation methods to comply with the new normal, while expanding the mainland market and actively connecting with customers to form a production chain, in line with the commitments to origins in various FTA agreements.
(2) Vietnam’s footwear industry declined by 9.9% in the first 10 months of 2020
According to the Vietnam Ministry of Industry and Commerce, Vietnam’s footwear output reached 249 million pairs in the first 10 months of 2020. A year-on-year increase of 0.8%, the export value was approximately US$13.38 billion, a decrease of 9.9%. Two months after the Vietnam-European Union Free Trade Agreement (EVFTA) came into effect, Vietnam’s footwear exports increased, driving the development of the industry. Vietnam’s footwear export volume this year is targeted at US$24 billion. The fourth quarter is the shopping season, and footwear sales will increase. Vietnam’s footwear industry should speed up and seize the opportunity to achieve this year’s goals. </p
