According to Vietnam’s “Economic Times” report, the biggest concern of Vietnam’s textile industry at present is market sales issues. According to a report from the Vietnam Textile Association (Vinates), starting from the fourth quarter of 2008, the United States, the European Union, Japan and other markets that used to import the most textiles from Vietnam will reduce their imports of textiles from Vietnam. Vietnam’s textile exports decreased from US$916 million in August to US$831 million in September, US$753 million in October, and US$780 million in November. It is expected that textile exports in December will be US$800 million, with annual export volume of US$9.1 billion, an increase of 17% over the same period in 2007, and 96% of the annual export plan will be completed.
According to reports, the export orders of Vietnamese textile companies are currently declining significantly. Most companies have not been able to sign export orders for 2009. Some foreign trading partners plan to reduce the number of orders imported from Vietnam. Textile orders in the fourth quarter of 2008 are expected to decrease by 10% compared with the same period in 2007.
According to reports, Chairman Vinates said that Vietnam will adjust the planned target of textile exports of US$11.5 billion in 2009. It is expected that textile exports in 2009 will increase by about 5% compared with 2008.
