The latest barometer of trade in goods released by the World Trade Organization (WTO) shows that as the global economy continues to be impacted, the global demand for trade in goods is cooling down, and the growth rate of trade in goods may further slow down at the end of 2022 and 2023.

In fact, the gloom of the global economic slowdown has enveloped the textile and garment industry in Asia. According to the latest data released by Vietnam, Bangladesh, Pakistan and other big textile and garment countries, the export situation of textile and garment industries in various countries is grim, and all of them show different degrees of export decline!