Vietnam's textile export turnover shows decline
The Viet Nam Textile and Garment Association (Vitas) said up to May 15, the progressive export turnover of textile and garment products was estimated at $2.89 billion, a drop of 2 percent against the corresponding period last year. This sector's export turnover in May was put at $650 million.
Egytex News Desk
Source: Vietnam Business Finance
However, the association stated that many purchase orders left for the period of June and July 2009 have not been taken into consideration. Some large apparel producers already had sufficient export volume until the end of Q3.
Ministry of Industry and Trade affirmed that although the country's export turnover dropped by 25% against 2008, the textile and garment export still is the leader.
Vietnam's export to the US market was considered positive against other competitors in the world such as China, and India. The Vietnam's market share in the US has increased from 3.4% in Q1 of 2008 to 4.74% this year. In other markets such as Japan, Vietnam's textile and garment export is also expected to increase by 22% year-on-year and by 35% in smaller markets of South Korea and Taiwan.
Source: Vietnam Business Finance
From the Egytex news archive, first published on 14 June 2009. Figures and names are as reported at the time.
