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Exports targets for 2009 may be revised
Jan '09
In 2008, the total exports from the textile and garment industry touched US $8.9 billion, which is short by nearly $600 million against $9.5 billion targeted for the whole year. Exports were galloping at a very healthy pace till August, but with the unfolding of the global economic crisis, exports were affected to a great extent.

Export to US and EU were reduced to a large extent, but got compensated in the high growth rates achieved in shipments to Taiwan, ASEAN and Canada. The Japanese markets are expected to help in 2009 due to the recently signed free trade agreement, which will also offset the negative growths elsewhere.

In December, the export value of textile and garment industry reached $724 million, lower by $60 million compared to the same achieved in November. The Chairman of Vietnam Textile and Apparel Association has also said that the export target of $11.5 billion for 2009 would need to be adjusted. According to him, targets should be about 5 percent higher than that achieved in 2008.

Fibre2fashion News Desk - Vietnam

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