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Your go-to source for news, anytime, anywhere! Insightful industry information from the textile, apparel & fashion world with our news app
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Textile & garment export miss the mark
19 Dec '05
1 min read
Vietnam Textile and Garment Corporation's export earnings for November stood at $420 million, an increase of 4 percent compared to October.
The cumulative 11 months amount this year amounted to $828.2 million, an increase of 2.1 percent over last year, which is below the target set for this year.
To fulfill the export plan for 2005 which was targeted at $5.2 billion, the textile and garment industry needs to export $880 million in December which is double compared to previous months, and is difficult to achieve. Some high-value orders have been received, but for the year 2006.
Reasons for short fall were slow deployment of corporate investment projects, especially export-oriented material investment projects and the corporate growth increase for 11 months was only 11.3 percent compared to the same period in the previous year.
Since the beginning this year up to now, the export turnover of 25 categories to the USA were $1.4 billion. The average export price of those categories of goods to this market decreased less than 4 percent compared to the same period last year, whereas, for other countries it has decreased from 30 percent to 40 percent.
The cumulative 11 months amount this year amounted to $828.2 million, an increase of 2.1 percent over last year, which is below the target set for this year.
To fulfill the export plan for 2005 which was targeted at $5.2 billion, the textile and garment industry needs to export $880 million in December which is double compared to previous months, and is difficult to achieve. Some high-value orders have been received, but for the year 2006.
Reasons for short fall were slow deployment of corporate investment projects, especially export-oriented material investment projects and the corporate growth increase for 11 months was only 11.3 percent compared to the same period in the previous year.
Since the beginning this year up to now, the export turnover of 25 categories to the USA were $1.4 billion. The average export price of those categories of goods to this market decreased less than 4 percent compared to the same period last year, whereas, for other countries it has decreased from 30 percent to 40 percent.
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Yohan Lawrence
Joint Apparel Association Forum (JAAFSL)
Folker Stachetzki
Brother Internationale Industriemaschinen GmbH
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