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The epidemic situation in many countries in Southeast Asia is urgent, textile and garment export-related companies are worthy of attention

June 05, 2021
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According to CCTV, on May 28, industry insiders in the Indian garment export industry said that due to the blockade measures during the epidemic, the export of the Indian garment industry has shrunk severely. In 2020, the export of the Indian garment industry will decrease by 24%. In the new round of the epidemic, related Indian companies have lost a large number of garment export contracts due to the inability of workers to arrive at their posts. The export volume of the hosiery center in Ludhiana, the northern city of Punjab, India, decreased by 35%. Relevant data show that in the clothing cities of Delhi and Bangalore, the labor absenteeism rate in the clothing industry is as high as 50%. Industry insiders said that normally this time of year is the peak time for placing orders, but buyers from all walks of life are now more cautious.

 

   In addition, in recent times, other Asian countries have shown signs of warming up. Asian countries such as Malaysia, Vietnam, and Thailand are also suffering from the impact of the new crown epidemic. As key production and manufacturing bases in the global market, the epidemic in these places continues to ferment, which will have an impact on the global supply chain. From the perspective of the global textile and apparel evolution trend, the export of textiles and apparel in Southeast Asia accounts for a relatively high proportion, and the epidemic may lead to a shift in orders.

 

   Since the beginning of this year, China's textile and apparel has maintained rapid growth. According to customs statistics, from January to April this year, the country’s textile and apparel exports totaled US$88.37 billion, a year-on-year increase of 32.8%. Among them, textile exports were US$43.96 billion, a year-on-year increase of 18%; clothing exports were US$44.41 billion, a year-on-year increase of 51.7%. In April, my country's clothing exports were 11.12 billion U.S. dollars, a year-on-year increase of 65.2%, and the export growth rate continued to increase by 22.9 percentage points from the previous month. Compared with the same period before the epidemic (April 2019), exports increased by 19.4%.

 

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