VIETNAM: Textile exports up 28.6% for year so far
Vietnamese General Statistics Department said that during the first seven months of this year, Vietnam exported US$4.24bn worth of textile and apparel products, representing a 28.6% increase against same period in 2006.
For July alone, exports turnover is expected to reach US$840m, a year-on-year increase of 31.3%. The country needs another US$3bn to fulfill its target for full-year 2007.
However, Pham Xuan Hong, vice chairman of Association of Garment - Textile, Embroidery and Knitting of Ho Chi Minh city (Agtek), said: "Enterprises are facing low demand from US clients for Q3 due to the monitoring mechanism at the US market, resulting a slump of 10% in the exports turnover in that coming period."
A Q3 dive could also be caused by a change in season, decreasing demand and orders for the products, added Hong.
Vietnam is waiting on investigation results of the monitoring mechanism of the US Department of Commerce (DOC), which should be finalised and announced this month. The DOC's decision on imposing anti-dumping levy on Vietnamese textile and apparel products would generate important effect on production and exports of the country's textile and apparel industry, from which 2m Vietnamese people make a living.
By Ngo Tuan.
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