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Meeting export target, a rare possibility - Experts

08
Nov '08
A statistical report shows that textile and garment export of Vietnam earned US $831.55 million in September, representing a decline of 9.3 percent, when compared to August. However, a yearly growth of 29.5 percent can be observed.

Experts opine, the country registered a strong growth rate, even in the face of global economic downturn. However, in the context of the current international situation, the export target of $9.5 billion seems to be unreachable.

In September, the textile and garment export value to the US market lowered by 9.8 percent to be to touch $469.3 million. To the EU and Japan, figures decreased 20.3 and 8.7 percent respectively to be $126.3 million and $74.85 million. The export turnover also declined in Belgium at 40.7 percent, Italy with 40.6 percent, Russia - 63.8 percent, and Turkey - 49.8 percent.

On the other hand, in this month only, export to Taiwan showcased a strong surge of nearly 13.8 percent over August and 107.3 percent year-on-year. Shipments to Ukraine also increased by 74.6 percent against previous month and yearly rise of 151.6 percent.

Compared to September, last year, the export value is on the higher side this year. The reasons can be attributed to the newer promising markets like Germany with 20.6 percent; Spain at 136.2 percent; Canada for 64 percent and Korea at 90 percent.

In total, the export value of textile and garment industry reached $6.842 billion, soaring by 20.2 percent over 2007; in these nine months, the country completed almost 72 percent of yearly target.

Fibre2fashion News Desk - Vietnam


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