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Garments & footwear expected to recoup for fall in exports

10
Jan '09
According to an estimate of the Vietnamese MOIT, the export value of industrial processing groups in 2009 will reach US $52.9 billion, up 38.7 percent over 2008.

Over the years, minerals, agriculture, forestry and fishery have been Vietnam's flagship groups of industries which have helped increase exports from the country. However, experts predict that in 2009, there will be a decline in the export value of these sector groups by about US $6.6 billion.

Therefore, the burden of retaining the edge in exports from the country will be shifted to the industrial processing products. Five industrial processing products that are expected to gain and attain high export value include: textile and garment products, footwear, wooden products, plastic products and electric wires and cable.

Textile and garment industry's export target of $11.5 billion with a growth rate of 25 percent in 2009 may be readjusted but the industry still hopes that the industrial processing sector will help the country achieve its export targets.

Other industrial processing sectors have the potential to achieve high values are footwear, plastic products and electric wires and cable with targeted export value of $5.1 billion, $1 billion and $1.4 billion respectively.


Fibre2fashion News Desk - Vietnam


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