Home / Knowledge / News / Apparel/Garments / Vietnam downwardly revises 2012 garment export target
Vietnam downwardly revises 2012 garment export target
Aug '12
Vietnam Textile and Apparel Association (VITAS) has reduced the garment and textile export-value target for the current year from US$ 19 billion to US$ 17-17.5 billion, mainly due to sluggish export growth and a drop in orders.
Although Vietnam’s garment and textile exports grew at a year-on-year rate of 7.5 percent to reach US$ 9.2 billion during the first seven months of the year, the export growth rate was far below the 30 percent growth achieved during the same period last year.
Though textile and garment export turnover remains positive, it has failed to rise to the expectations of the sector, said VITAS Deputy Chairman and General Secretary, Dang Phuong Dung.
Vietnam textile and garment industry has yet not been able to develop trademarks to compete globally and has been facing problems in obtaining sizeable orders.
Moreover, heavy dependence on imported raw materials and outsourcing of orders resulting in low return rate have held back Vietnam’s garment sector from making any significant value addition in export items.
VITAS Deputy Chairman Pham Xuan Hong said only large textile and garment enterprises have booked orders for third quarter of the current year, while several small and medium sized firms have been forced to scale down production for want of orders.
Over the past few months, there has been a considerable fall in consumption demands in the EU, which has caused the export orders to dip by about 20-30 percent over the same period last year.
As per VITAS’ predictions, owing to financial crisis, raw material scarcity and higher input costs, Vietnam’s garment and textile sector would continue to face problems for the next two to three months.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 21st Feb 2017

Net profit at Indorama Ventures zooms 145% in 2016

Net profit at Thailand headquartered and Aloke Lohia led Indorama...

Information Technology | On 21st Feb 2017

ThreadSol launches IntelloBuy & IntelloCut in Vietnam

ThreadSol, the pioneer of enterprise material management for sewn...

Textiles | On 21st Feb 2017

GST to reduce documentation for logistics firms: CBRE

The Goods and Services Tax (GST) is likely to result in a reduction...

Interviews View All

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Arvind Saraf
Triveni Sarees

e-Commerce is still evolving fast with constant flux and surprises

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Suresh Patel
Sidwin Fabric

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

Eric Scholler

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

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Silvia Venturini Fendi
Fendi s.r.l

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

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

February 2017

February 2017

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


Browse Our Archives


Subscribe today and get the latest News update in your mail box.
Advanced Search