Garment Export Forecast to Rise 5 per cent to US$9.55 Bln in 2009
Textile and garment exports will reach US$9.55 billion in 2009, an on-year rise of 5 per cent, according to the estimation of Le Quoc An, chairman of the Vietnam Textile and Apparel Association (Vitas).
The sector initially targeted to make export revenues of US$11.5 billion next year, but with reducing production situation in the final months of 2008, it will have to lower its target, An said.
The apparel industry is estimated to obtain export value of US$9.1 billion in 2008, up 17 per cent on-year, representing 96 per cent of the yearly target.
According to Pham Xuan Hong, vice chairman of Ho Chi Minh City Apparel and Embroider Association, the textile and garment sector will encounter many difficulties in the coming time as the number of export orders is sharply falling.
Vietnamese textile and garment exports to large markets like the U.S., the EU and Japan have dropped in the months of the fourth quarter.
Hong said most of apparel enterprises have not yet had long-term export orders for 2009. Clients and customers have plans to reduce import orders from Vietnam, he said.
In the final months of this year, orders have fallen by 10 per cent as compared with previous months. (Vietnam Economic Times)
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