The order came back, but it was not good …
It is expected that this difficult situation will continue until the end of the first quarter of 2024.
However, there are many positive signals in the textile and footwear markets.
For leather and shoemaking industries, from the end of 2023, the number of orders began to increase again, with an average increase of about 20-25%. The enterprise expects that the number of orders will gradually recover and increase substantially in the first few months of 2024 to ensure the stability of workers' employment after long-term production reduction.
It is worth noting that in order to make up for the decline in traditional market orders, leather and footwear enterprises have been actively looking for opportunities in niche markets such as the Middle East, Asia and Africa. The evidence is that the Asian market has grown by more than 10%, while the United States, China and Japan are still the largest import markets for leather and footwear.
Orders have rebounded.
But it can't reflect the overall situation.
In the field of textiles and clothing, corporate announcements show that orders have rebounded. A representative of Thanh Cong Textile and Apparel Investment and Trade Co., Ltd. (TCM) said that the company has received about 90% of the order revenue plan for the first quarter of 2024.
Therefore, under the current circumstances, it is considered positive to complete the export production order in the first quarter after the income and profit in the 11 months of 2023 decreased by 25% and 29% respectively.
Similarly, Viet Thang Jean recently received an order to export 1 million products to the European market. The person in charge of the business believes that this is a positive signal for the start of 2024. After the business experienced negative growth in 2023, the revenue decreased by 20% compared with the previous year.
Although orders have rebounded, they still cannot reflect the overall situation of textile and garment export enterprises at present.
A person in charge of an enterprise in Ho Chi Minh City that specializes in exporting clothing products to the US and EU markets recently revealed to the media that compared with previous months, orders are still very weak and there are no positive signs. Therefore, more than 40% of the employees who lost their jobs in the past year still have no chance to return to the company's factory.
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