Sewing line for children's swimwear for export at the garment factory of Ha Dong Co., Ltd. Photo: Vu Sinh/VNA
According to the General Department of Customs, in the first quarter of 2022, the export value of textiles and garments reached US$ 8.68 billion, up 20.3% over the same period last year, equivalent to an increase of US$ 1.46 billion. This is the highest increase in the past 10 years, from 2012 to present.
The growth of the textile and garment group was at a record level in March 2022, reaching 3.05 billion USD, up 48.3%, equivalent to an increase of more than 1 billion USD compared to the previous month.
Regarding the market, the US continues to be the largest textile and garment import market from Vietnam with a value of USD 4.3 billion, up 24% in the first quarter of 2022 and accounting for 50.3% of the total export value of goods. textiles of the country. Followed by the EU market with 896 million USD, up 31%; Korean market with 754 million USD, up 7%...
Chairman of the Board of Directors of Vietnam National Textile and Garment Group (Vinatex, stock code: VGT) Le Tien Truong informed that Vietnam ranked first among 27 textile and garment producing countries with attractiveness when ordering in 2022, with 59/ 75 points according to the assessment of an international organization. This result is due to the internal strength of Vietnam's textile and garment industry, the industry's attractiveness and competitiveness, achieving the growth target of almost double the world's total demand, along with the improvement of the market share of the textile industry. Vietnamese garment in the international arena.
At this time, many textile enterprises have orders until the third quarter of 2022 or even the end of the year. These signals were partly reflected in business results in the first quarter of the past when many businesses reported profits.
In the first quarter of 2022, Vinatex announced its consolidated financial statements with a profit of more than VND 5,152 billion in consolidated revenue, equaling 144.2 percent over the same period and reaching 28.5% of the 2022 plan. Profit before tax reached 376.7 billion dong, equaling 173.9% compared to the first quarter of last year and equaling 39.6% of the year plan.
Recently, Thanh Cong Textile - Investment - Trading Company (stock code: TCM) announced April revenue of 393 billion dong, up 21% over the same period last year; in which, the garment segment contributes 78%, fabric 14% and yarn 7%. Profit after tax increased slightly by 1%, reaching 19.2 billion dong. This enterprise also plans to achieve revenue of more than VND 4,180 billion and profit after tax of VND 253.8 billion, respectively increasing by 18% and 77% compared to the performance results in 2021.
According to Thanh Cong Textile - Investment - Trading Company, 2022 will be a more prosperous year for Vietnam's textile industry in general and this enterprise in particular. The world clothing retail market has gradually recovered after the COVID-19 epidemic showed signs of slowing down thanks to vaccine coverage. Especially, Vietnam has had a policy of both safe and flexible adaptation, effective control of the COVID-19 epidemic, and economic recovery and development according to Resolution No. 128/NQ-CP dated October 11, 2021. promulgating the provisional regulation "Safely adapting, flexibly, effectively controlling the COVID-19 epidemic".
Besides the positive signal, textile enterprises still face the challenge of fulfilling orders. According to the Vietnam Textile and Apparel Association (Vitas), it is a matter of transport costs 3 times higher than the average of the past 5 years; The disadvantage of exchange rate makes Vietnam's textile and garment less competitive against rivals.
Along with that, the labor imbalance, businesses in the South still lack workers, while this area accounts for about 40% of the total export turnover of the whole industry. The lack of raw materials in the short term will make it difficult for businesses to meet orders for partners...
To face these challenges, businesses have long-term strategies. For example, Thanh Cong Textile - Investment - Trade Company has actively expanded its capacity to create room for growth when it is expected to put into operation the No. 2 garment factory in Hoa Phu industrial zone, Vinh Long province with 1,500 employees. multiplication, capacity of 9 million products/year. After the plant is put into operation, it will contribute more revenue for 2022 and the following years.
As for the supply of raw materials, experts of Vndirect Securities said that this could be the reason why the profit growth of garment enterprises will slow down in 2022, especially in enterprises use cotton yarn for the production process.
This assessment is made by Vndirect in the context that cotton prices are expected to increase by 15% in 2022 due to poor harvests in the US and India. The US Department of Agriculture forecasts US cotton production to fall 3.2% year-on-year in 2021, while India's cotton volume in the 2021-2022 season is forecast to decrease by 4% year-on-year due to crop growth. in the producing states suffered damage from heavy rains during the harvest season.
Closing the trading session on June 3, textile and garment stocks recovered following the market's general momentum, VGT stock was priced at 19,700 dong/unit, MSH stock was priced at 80,800 dong/unit and TCM stock. stood at 61,300 VND/unit.
Diep Anh (TTXVN)
