Export Growth Is Sluggish And Vietnam Aims To Cut Export Targets

Vietnam Textile

The Association (VITAS) has cut the current fiscal year.

The target of export volume decreased from US $19 billion to US $170-175, mainly due to low export growth and declining orders.

Despite the first seven months of this year, Vietnamese clothing and

Exports grew by 7.5% over the same period last year, to $9 billion 200 million.

But the export growth rate is still far lower than the 30% achieved in the same period last year.

Although textiles and

The amount is still growing steadily, but the dollar still meets the expectations of the Department, said Deng Fangrong, vice president and Secretary General of the Vietnam textile and Apparel Association.

Textiles and textiles in Vietnam

There is still no development of trademark for global competition, and there are still problems in obtaining large orders.

In addition, heavy reliance on imported raw materials and outsourcing orders has reversed the low return rate of Vietnam's clothing sector, and export projects have no obvious added value.

Fan Chunhong, vice president of the Vietnam textile and Garment Association, said that only large textile and garment enterprises had orders for the third quarter of this year, while several small and medium-sized companies were forced to cut their production due to lack of orders.

In the past few months, the EU's consumption demand has declined considerably, resulting in a decrease of about 20-30% in export orders compared with the same period last year.

According to the Vietnam textile and Apparel Association's forecast, due to the financial crisis, lack of raw materials and higher input costs, Vietnam's clothing and textile sector will continue to face problems in the next 2-3 months.