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Vietnam garment export growth slows down in H1
21
Jul '12
The growth rate of Vietnamese garment and textile exports slowed down considerably during the first six months of 2012.
 
Vietnam’s apparel and textile exports grew by 8.7 percent year-on-year to US$ 6.8 billion during the first half of the current year, which is considerably low compared to the growth rate of 30 percent year-on-year posted during the corresponding period of last year, according to the latest data released by the Ministry of Trade and Industry.
 
The decline in growth rate is due to a decrease in orders from Vietnam’s major export markets, especially from the EU, where the orders dipped by 20 percent compared to 2011.
 
Vietnam’s clothing and textile exports are likely to grow at the same pace during the second half of the year, according to the Vietnam Textile and Garment Association (VITAS).
 
During the January-June 2012 period, Vietnam’s apparel and textile exports to the US, South Korea and Japan showed significant growth.
 

Fibre2fashion News Desk - India

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