Vietnam : Textile, Garment Export to EU Plummeted

Source the Trade Ministry, Vietnam, in the first 7 months of 2003, has earned over $269m. from textiles and garment export to EU, the second biggest market only to the US, reflecting a year-on-year drop of 27%.

According to MoT, fulfiling remained contracts with partners from the US take much time of Vietnam businesses, leading to a neglect on EU – a traditional market.

Moreover, cat. 21, the key export to EU was reduced 28% on the earlier time, Many cat. entitled as “ hot” items last year now have the lower records such as cat. 4.5, 6.7, 15, 29, 78, 83, 161 with the decrease of 31- 69% from 2002.

Besides EU, textile and garment export to other markets experienced the same move with Canada, down 32%, obtaining $9.4m., Turkey, lessened 23% with a modest sales of $611.340