Textiles and Garment Exports down 17% due to COVID-19
- Monday - 18/01/2021 10:22
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Web Portal – According to Dong Nai Statistical Department, the province's textile and garment export turnover in 2020 reached over USD 1.68 billion, down nearly 17% over the same period last year (equivalent to USD 330 million). Therefore, it fell to the third position, behind the turnover of shoes and machinery, equipment and spare parts. In the field of textile and garment, foreign-invested enterprises account for over 80% in production and export.
The reason for sharp drop in textile export turnover is that COVID-19, which has caused many businesses to reduce production by 30-60% due to shortage of orders. However, from the fourth quarter of 2020, textile exports began to recover. Currently, many businesses have restored its normal production and get orders until the end of 2021.
Vi Quan