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Export of sweaters decline despite growth in August
14
Nov '08
A statistical report released by Vietnam General Department of Customs showed that exports of sweaters from the country suffered a slight decline in the first eight months in spite of its strong growth in August this year.

Vietnam exported 8.3 million sweaters in 8 months, worth US $46.5 million, down 9.8 percent in volume and 3.9 percent in value respectively on-year, even though in August, there was a sharp rise of 32.4 and 34.3 percent in terms of both volume and value over July. During this month nearly 1.93 million units worth $11.2 million were shipped to various countries across the world.

In the period from January to August, export of sweaters to US reached 2.51 million for $14.3 million, showcasing a plunge of 13.2 and 15.9 percent, in volume and value over similar period 2007. The USA is the biggest exporting market for Made-in-Vietnam sweater, accounting for 30.8 percent of its total export value of the country.

Even, there was a decline in EU market, with 2.63 million units worth US$ 16.3 million, depicting a fall of 25 and 5.6 percent year-on-year.

Notably, exports to Korea sharply increased 261 percent in quantity and 231 percent value wise as compared to same period 2007 with 855 thousand products of $3.49 million. Experts are predicting that export of sweater to this market will increase in the last quarter of the on going year.

Exporting price for sweaters during the period from January – August, export prices on an average stood at $5.6 per piece, FOB, up 6.5 percent year-on–year.

Fibre2fashion News Desk - Vietnam


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Courtesy: Business wire

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