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Textile & garment exports suffers slowdown in Oct
01 Nov '08
1 min read
An official statistics report from the Ministry of Industry and Trade (MOIT) showed that in the first 20 days of last month, textile and garment export turnover declined by 30 percent when compared to same period of previous month. However, the figures showcase a mere 5 percent surge year-on-year.
According to local experts, this situation is the result of global economic meltdown. Even though the country has strengthened its position in the global export market, this condition can be taken as a caution, that export activities of Vietnamese textile and garment products in the remaining months of 2008 and in 2009 may slow down.
As export market experienced a plummeting trend, import of most of the textile and garment raw materials also onserved a sliding trend during this period. Import of fabric rose merely 0.4 percent over similar period previous year.
According to local experts, this situation is the result of global economic meltdown. Even though the country has strengthened its position in the global export market, this condition can be taken as a caution, that export activities of Vietnamese textile and garment products in the remaining months of 2008 and in 2009 may slow down.
As export market experienced a plummeting trend, import of most of the textile and garment raw materials also onserved a sliding trend during this period. Import of fabric rose merely 0.4 percent over similar period previous year.
Fibre2fashion News Desk - Vietnam
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