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Dropped production in Vietnam disrupts global supply chain: HSBC

According to HSBC, the decline in Vietnam’s textile, leather and shoe industry production due to COVID-19 is affecting the global supply chain, HSBC recently said, and the government has broad plans to coexist with COVID-19. Coverage rate said it relies heavily on the ability to achieve the vaccine. According to the Vietnam Textile Apparel Association (VITAS), nearly 35% of domestic textile factories are closed.

The market share of the leather and shoe industry is 15% after doubling in the last decade. Consumers in the United States and Europe will suffer turmoil, especially as the holiday season approaches, according to Vietnamese newspaper reports.

Adidas faces challenges as Vietnam accounts for nearly 30% of the world’s supply. Taiwanese supplier Pouyuen, which has a factory in Vietnam, is one of the companies to stop production.

According to HSBC, the decline in Vietnam’s textile, leather and footwear industry production due to COVID-19 has hit the global supply chain. ratio. According to industry group VITAS, nearly 35% of textile factories are closed.

Fiber2Fashion News Desk (DS)

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Dropped production in Vietnam disrupts global supply chain: HSBC

Source link Dropped production in Vietnam disrupts global supply chain: HSBC

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