Home / Knowledge / News / Apparel/Garments / Vietnam's garment, textile exports likely to suffer a setback
Vietnam's garment, textile exports likely to suffer a setback
15
Nov '11
Textile and garment exports from Vietnam are likely to suffer a setback as the industry may face difficulties in getting new export contracts from major destinations like the EU and the US, owing to debt crisis in those countries.

Textile and garment exporters state that an approximate fall of 15 to 20 percent has been witnessed in export orders during last month, over last year's corresponding period.

Several exporters, particularly the small-and medium-sized ones experienced a drop in export orders over past few months and are expecting the same trend to continue even in the first quarter of next year.

According to the Ministry of Industry and Trade (MoIT) statistics, textile and garment exports plummeted from over US$ 1.5 billion in August 2011 to US$ 1.3 billion in October 2011.

The current public debt crisis in the US and the EU, two of the Vietnam's major export destinations, would adversely affect Vietnam's exports in the coming months, MoIT said in a report.

The report further states that in order to balance the losses suffered by them in the EU and the US, the local textile and garment exporters are trying to explore new markets like Africa, South Korea, Australia and Canada. However, it is not an easy job to counter severe competition extended by low-priced Indian and Indonesian goods.

Fibre2fashion News Desk - India

Must ReadView All

Apparel/Garments | On 28th May 2017

Over 45% US retailers to use AI in next 3 years: Report

Over 45 per cent retailers in the US plan to utilise artificial...

Neelesh Hundekari speaking at the event. Courtesy: Subir Ghosh

Textiles | On 27th May 2017

Fabric of Change initiative announces €250000 scaling fund

The Fabric of Change initiative of Ashoka and the C&A Foundation is...

Apparel/Garments | On 28th May 2017

Naked Brand, Bendon sign agreement to reorganise

Naked Brand Group, a fashion and lifestyle brand, and Bendon Limited, ...

Interviews View All

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
May 2017

May 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search