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Textile & garments exports likely to continue decline in 2009

27
Dec '08

Recently, the export of textile and garment products has declined by 20 to 30 percent in term of orders and unit price during the month of December this year, an official source from Vietnam Textile and Garment Association said.

It is expected that this situation will prolong during the first few months of 2009. Strong decrease is anticipated in key import market like US, France, Spain and Germany.

The global economic downturn is one of the main reasons for leading consumers to cut down on spending and enterprises to limit their orders.

At present, textile and garment enterprises propose the Government to reduce tax that will help them to operate at this hard time. Market insiders opine that Vietnamese textile and garment export target of $9.5 billion for 2008 will be very difficult to reach.

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