Vietnam’s garment, textile and footwear industry is facing “immense uncertainty”, according to business media in the Asian country.

Reports say the sector achieved export values of $30 billion in the first eight months of 2022, but link this to orders placed at the start of the year.

Now there is a steep decline in order volumes. Rising costs, waning consumer confidence and geopolitical tensions have combined to make buyers in Europe and North America more cautious and manufacturers in Vietnam now face reductions and sometimes even cancellations of orders.

Many garment factories in Vietnam are cancelling overtime and, in some cases, even reducing workers’ hours.

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