Waste ABS Chrome Plastic Scraps

Recently, the news of the "shortage of orders" of domestic manufacturing factories has been reported in the newspapers, and the Vietnamese factories that had been in hot orders and even queued up to the end of the year have started to "lack orders". Many factories have reduced overtime hours and started to stop production and have holidays. Even the factories of Samsung, a well-known electronic enterprise, have been affected. According to relevant employees, Samsung Electronics has reduced the production scale of its large-scale smartphone factory in Vietnam.

     An employee of Samsung Vietnam factory said that now he only works three days a week, and some production lines are adjusting the original six days a week to four days a week. In previous years, the period from June to July was the off-season, but there was no overtime and no reduction in working days. The employee disclosed that the information from the management was that the inventory was high and there were not many new orders. At the peak of the COVID-19 epidemic last year, business activities were even more active, but now they are depressed.

Export drops 15-40%! India's orders have declined in the next quarter

Affected by the global economic recession, India's textile industry is experiencing gusts of cold wind. Due to the slow demand of Western retail brands, the export orders of clothing and home textiles from the United States and Europe decreased by about 15% - 20%. In Panipat, an important home textile production center, there are signs that export orders have dropped by as much as 40%. It is reported that the inflation and interest rate rise caused by the Russian Ukrainian war are the reasons for the economic recession and the reduction of export orders.

Industry sources said that importers from western countries not only reduced orders for the next quarter, but also delayed the delivery of previous orders. Due to high inflation, retail sales in western countries have slowed sharply. The warehouse is full of unsold goods.

After participating in the Trade Fair held in Germany in June, Panipat's exporters said that their orders for home textile exports had decreased by 40% compared with last year. Ramesh Verma, an exporter of Panipat and a member of the handloom Export Promotion Committee, said that large companies and retail brands from the United States and Europe purchased a large number of home textile products last year, but the retail sales were still very weak. Therefore, they have to reduce their purchases, and exporters' orders for the next quarter are reduced.