The “outflow” of orders from apparel foreign trade companies is under pressure. Exports of wedding and social clothing such as wedding dresses and suits are growing against the trend
A few days ago, a piece of news from Vietnam’s “Business News” attracted the attention of domestic and foreign trade export companies. According to the news, Vietnam’s textile and clothing exports in March were US$3.05 billion, a month-on-month increase of 48.3%, with a net increase of more than US$1 billion. The news also said that in the first quarter of this year, Vietnam’s textile and clothing exports were US$8.68 billion, a year-on-year increase of 20.3%, a net increase of US$1.46 billion.
In this regard, industry analysts pointed out: “It is worth noting that textiles and clothing were the commodity category that contributed the most to Vietnam’s export growth in the first quarter, accounting for nearly 14% of Vietnam’s new exports. The three major categories of commodities in the textile and clothing industry Exports reached US$10.85 billion, completing more than 25% of the full-year export target for 2022. It is expected that the export volume of Vietnam’s textile and garment industry will reach US$42.0 to 43.5 billion in 2022.”
Another set of data shows that in the first quarter, the United States continued to become Vietnam’s largest textile and apparel export market with an import volume of US$4.36 billion, a year-on-year increase of 24.2%, accounting for 10% of Vietnam’s textile and clothing export market. 50.3% of total apparel exports. Other major markets include exports to the EU of US$896 million, an increase of 31.4%; exports to Japan: US$771 million, a decrease of 2.9%; exports to South Korea: US$754 million, an increase of 6.9%, etc. .
In fact, since Vietnam opened entry to the country in mid-March, Vietnam’s total import and export of goods trade in March reached US$66.73 billion, a month-on-month increase of 36.8%. Among them, exports were US$34.06 billion, an increase of 45.5%; imports were US$32.67 billion, an increase of 28.7%. According to Vietnam’s first quarter import and export trade data, Vietnamese industry insiders predict that at the current growth rate, the country’s import and export volume may reach a new high in 2022, reaching US$700 billion.
It can be seen that foreign trade orders in Southeast Asia and other countries are recovering rapidly. As Southeast Asian countries relax entry restrictions and consumer expectations improve, order demand from Southeast Asian countries will rebound in a “retaliatory” manner, and Southeast Asia’s export transportation market will become even hotter.
According to data recently released by the General Bureau of Statistics of Vietnam, the labor market in many industries across the country has gradually become active in the first quarter of 2022, and workers’ income has improved significantly.
The cheap labor force in Southeast Asian countries such as Vietnam has always been the main factor in attracting foreign trade orders. In order to further attract foreign investment, Vietnam also signed a free trade agreement with the European Union, reducing 99% of tariffs. Although Made in China still ranks first in the world, the manufacturing industry in Southeast Asia also has an absolute advantage.
According to the website of the National Bureau of Statistics, in the first quarter, my country’s industrial capacity utilization rate was 75.8%, a decrease of 1.4 percentage points from the same period last year; the manufacturing capacity utilization rate was 75.9%, a decrease of 1.7 percentage points.
With the decline in industrial and manufacturing capacity utilization and the skyrocketing prices of energy and raw materials, in addition to the “increased outflow” of foreign trade orders in our country, there is currently another new pressure that cannot be underestimated – the sharp decline in orders. increase.
Some economists said that the current economic operation is facing greater uncertainty and challenges. From an external perspective, geopolitical conflicts have intensified and the momentum of global economic recovery has been weakened, which may accelerate the narrowing of my country’s trade surplus.
At the same time, although China’s economy is the first to resume work and production, our export pricing ability is limited. For example, some foreign businessmen are worried that logistics is not guaranteed, so they place many orders at the same time. Whoever delivers the goods first will pay the balance to whomever, and he will lose the most deposit.
While foreign trade companies are facing the pressure of “outflow” of orders, another set of data shows that in the first quarter of this year, the export value of my country’s clothing products increased by 5.2% year-on-year, and the growth rate slowed down. However, exports of wedding and social clothing such as wedding dresses and suits have experienced growth against the trend.
The reporter learned from the China National Garment Association that since the beginning of this year, the foreign trade orders of some companies have continued to improve. A company in Dalian handles more than 10 foreign mails every day. Since the first quarter of this year, this clothing company has exported more than 550,000 customized suits, a significant increase of 78% compared to the same period last year. Their export orders are currently scheduled until September this year.
As a traditional Western clothing, wedding dresses have also collided with new sparks after years of integration with domestic production and design. “Chinese style” is gradually being integrated into wedding dress design, and traditional crafts such as “cheongsam collar” and “bead embroidery” are becoming popular overseas. In Chaozhou, Guangdong, where the wedding dress industry gathers, many export companies have placed orders until August and September this year. According to Chaozhou Customs data, Chaozhou’s wedding dress exports in the first quarter of this year were 180 million yuan, a year-on-year increase of more than 116%.
However, some people in the industry believe that with the resumption of work and production in Southeast Asia, international competition in the clothing production industry is becoming increasingly fierce. The current rapid growth of wedding social wear such as wedding dresses and suits is mostly consuming the stock that was suppressed by the epidemic in the previous two years, and the future growth is not optimistic. If we want to achieve further growth amidst challenges, we also need to improve our comprehensive capabilities in technology, management, environmental protection and other aspects.��Competitiveness.
At present, our country has embarked on a new journey of high quality development. To promote high-quality economic development, we must focus on promoting the transformation and upgrading of the industrial structure. Only by making the real economy solid, strong and excellent can we improve the quality of enterprise operations. efficiency and retain high-value orders.
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