10
May
Textile & Garment -Brief-[NONRATED]-The recovery is still controversial
Apr export value growth of Vietnam’s T&G downed slightly by 3.3% mom but plunged sharply by 19.4% yoy. Hence, the 4M23 T&G export value remarkably descended (USD9.7bn, -17.9% yoy). Vietnam’s fiber and yarn (F&Y) export value also slid 26.8% yoy and -5.2% mom to USD356mn in Apr. Despite the the export value turnaround in Mar (total industry export growth of +14.5% mom), the export revenue of most listed companies diverged in Mar: (VGG -3.2% mom, -20.2% yoy), (GIL -2.4% mom, -93% yoy), vs (TNG +27.2% mom, +23.5% yoy).