Analyst Pin-board Textile & garment – Short-term challenges in 2H 2022
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· In 1H2022, Vietnam's textile and garment exports were USD 18.53 Bn, up 20.8% YoY, driven by the strong pent-up demand after lockdowns ended in many developed countries and the recovery of domestic production activities. · Apparel demand starts to face softening demand, especially in the US, due to inflationary pressure to reduce new apparel orders. In addition, material prices have soared due to global disruptions, contracting garment companies’ gross margin. · In the next 3-5 years, we believe that the textile and garment industry will gradually regain its inherent growth momentum, thanks to favorable factors from the recovery of the importing countries' economies, the trend of changing orders from China to Vietnam, taking advantage of trade agreements and improving the production value chain. Therefore, the medium-term difficulties may be an investment opportunity for investors if stock prices discount. |
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