According to the analysis of the "Impact of COVID-19 on Global Trade" released by the United Nations Conference on Trade and Development, the global textile and garment industry will lose more than US$1.5 billion (ABOUT RMB10.4 billion) as a result, with the export trade-backed Southeast Asian textile and garment industry being greatly affected.
Affected by the spread of overseas epidemic and economic recession, China's sewing machinery industry exports in the first five months of 2020 showed a general downward trend, the monthly decline continued to increase. According to the latest customs data, the cumulative export of sewing machinery products from January to May was 766 million US dollars, a year-on-year decrease of 22.10%. In May, the export value of sewing machine products was 137 million US dollars, a year-on-year decrease of 40.83% and a month-on-month decrease of 8.55%.
From the perspective of export by market, from January to May 2020, China’s exports of sewing machinery products in Asia, Africa, Europe, South America, and North America all showed a year-on-year decline, and exports to the Oceania market only showed year-on-year growth (mainly multi-functional (As a result of the increase in household sewing machine exports).
Home sewing machine
Industrial sewing machines
Equipment before and after sewing
Sewing machine parts
Summary of sewing machinery products
As the epidemic spread in Europe and the United States, leading to many Southeast Asian-based international clothing brands have been canceling or postponing orders.
Vina tex Group, Vietnam's biggest clothing maker, is planning to take up to 50,000 workers off. According to the Ministry of Industry and Trade of Viet Nam, orders for textiles and footwear in Vietnam will fall by about 70% year-on-year in April and May 2020;
Thousands of garment factories in Bangladesh have been cancelled, and Bangladesh's garment exports fell by more than 20% year-on-year in March, according to the Bangladesh Garment Export Promotion Authority.
India's total blockade has been extended, bringing the textile industry to a near standstill, with the Indian Garment Manufacturers Association saying the country's textile industry could cut 10 mouts;
Countries such as Cambodia and Myanmar are generally facing pressure on textile and garment production, export and employment.
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