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Vietnam Cut Export Target Of Textile Industry For 09 Years

2008/12/24 11:23:00 21

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The export target of Vietnam's textile and garment industry must be lowered next year, which is due to the economic impact of the difficulties of the global market.

In the previous year, Vietnam's textile and clothing exports grew at a rate of 20%.

This year, the total export volume of the textile and clothing industry is estimated to reach 96% of the annual plan, reaching 9 billion 100 million US dollars, an increase of only 17%, the Vietnamese textile and Garment Group (Vinatex) said.

However, next year, the export growth of the textile and clothing industry is likely to decline sharply, 5% more than this year, said Li Guoen, President of the Vietnam textile and Garment Association (Vitas).

Vietnam's initial target for textile and clothing exports next year will be 11 billion 500 million US dollars, but this goal must be downgraded. This is because production and business challenges have forced the export volume of the third quarter of this year to show an overall downward trend.

Statistics from Vietnam textile and apparel group show that Vietnam's textile and clothing exports began to decline in August.

Exports in August amounted to US $916 million, but it dropped to $831 million in September and dropped to US $753 million in October.

It reached US $780 million in November and is expected to reach US $800 million in December.

Foreign partners in some enterprises have cut their orders even though the products have already been exported.

Orders in the domestic market also showed a downward trend at the end of the year, which was the peak shopping season in the past.

Many textile and garment export enterprises have not received long-term orders next year.

Hu Zhiming's clothing, textile embroidery and knitting Association said that if the economy did not improve significantly next year, the export orders for textiles and clothing could be reduced by 30%.