The country’s exports of textiles and garments brought in $2.6 billion last month, its ministry of industry and trade revealed. It estimated that Vietnam’s fabric production was up over 20.4 percent year-on-year, Fibre 2 Fashion reported.
Vietnam is among the countries benefitting from the accelerated offshoring of manufacturing from China to countries with cheaper labour, such as Cambodia and Bangladesh.
Even so, Covid-19 will continue to impact Vietnam’s garment industry until 2022, depending on when a vaccine is made available in the country, said Vu Duc Giang, chairman of the Vietnam Textile and Apparel Association. With purchasing power tempered by the pandemic, businesses are faced with the challenge of adapting to new business models and supply chain structures in their local and global markets.