The effect of global financial meltdown is clearly visible in almost all the aspects of life. Manufacturers, exporters, retailers and even consumers, all are suffering from the bouts of recession.
This is quite evident from the General Statistics Department of Ho Chi Minh city report of export turnover of the city that shows in November, the region fetched US $1.43 billion, depicting a drop of 9.7 percent in comparison with October.
The data shows that during first eleven months of the ongoing year, the turnover has reached up to $20.82 billion, representing a year–on–year growth of 25.4 percent.
According to experts of the department, such decline has caused due to global economic downturn that has been lowering exports of its key products, including textile and garment, wooden articles.
Market experts say that the current economic condition of the world has not only affected the businesses domestically but international markets are also facing all the troubles.
Fibre2fashion News Desk - Vietnam
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