According to Vietnam’s “Economic Times” report, the Ho Chi Minh City Textile Association (AGTEX) reported that Vietnam’s textile exports to major markets such as the United States, the European Union, and Japan have declined month by month since the fourth quarter of 2008. Vietnam’s textile exports were US$920 million in August, US$830 million in September, US$750 million in October, and US$780 million in November. The total export volume for the whole year is expected to be US$9.1 billion, a year-on-year increase of 17%, but a decrease of 4% from the original plan.
Orders from various textile companies are now decreasing, and most companies have not received long-term export orders for 2009. Although the export plan target for 2009 has been set (US$11.5 billion), due to the decline in global consumer demand, AGTEX expects Vietnam’s textile exports to grow by only 5% in 2009.