Coronavirus, which has so far killed over 600 people in China, has affected the apparel and fashion industry across the globe and Vietnam too has been hit severely.
Vietnam’s garment and textile is majorly dependent on China for raw materials and with the deadly virus showing no signs of slowing down, there is a struggle to get the raw materials.
Speaking about the same, Cao Huu Hieu, General Deputy Director, Vietnam National Garment and Textile Group (Vinatex) said “The Chinese Government has ordered the companies making the raw materials to close and stop foreign trade.”
Reportedly, Vietnam’s apparel and textile firms have raw materials to produce only for this month.
Vietnam Textile and Apparel Association, better known as VITAS, has urged apparel companies to discuss the issues with their customers and look for raw materials in Vietnam itself or in some other countries. This is the only way, VITAS believes, the impact of Coronavirus can be minimised.
The apparel and textile exports in January 2020 slumped by 21 per cent y-o-y to US $ 2.6 billion.
While confirming the same, General Statistics Office added in its report that raw materials from China fell by 7.1 per cent to touch US $ 6.2 billion during the said period.