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| H1 apparel exports unravel |
| 03/Jul/2009 Intellasia | Dau Tu Page 5 |
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| 3 Jul, 2009 - 2:30:32 PM |
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Vietnam Textile and Garment Association (Vitas) have announced that the country's textile export turnover in the first six months of this year was recorded at approximately $4 billion, down 4.7 percent year-on-year. The textile export price of H1 also declined 10-15 percent against the same period last year.
Le Quoc An, Vitas's chair stated that the results reflected the recessionary trend in global textile market, especially in Vietnam's traditional export markets such as US, EU.
In addition, the textile export price dropped considerably.
Although Vietnamese exporters retained the top position among those exporting textile products in US market, the gained export turnover was still considered low. Vitas predicted that this situation would last until the end of 2009 and was likely to continue in 2010 if the world economy recovers slowly.
Although Vietnam's export turnover to EU markets in H1 of 2009 jumped by 2 percent to $650 million, the textile value dropped remarkably. Most of the EU importers continuously asked for price negotiations with decreasing posted prices when signing the import contracts.
Textile exports to Japanese market maintained the export growth of 22 percent against 2008. The experts recommended that Vietnamese enterprises should concentrate on exporting their products to this market, especially with the appearance of new orders with low tax, in accordance with the implementation itinerary of the approved Vietnam-Japan economic partnership agreement that had been signed previously.
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