Vietnam's 09 Apparel Exports Forecast at US$9.1B, Equal to Last Year
The Vietnam Textile and Garment Group (Vinatex) forecasts that the country’s apparel exports will only reach between US$9.1 billion and US$9.2 billion, equaling last year’s turnover, due to difficulties caused by the global economic crisis.
Although the number of orders has risen during the second and third quarters, the market trends show that export turnover will likely fall during the remaining months of the year, Le Quoc An chairman of Vinatex said at the sector’s conference August 19.
The workshop, conducted by Vinatex and the Ministry of Industry and Trade, was to outline the development targets for 2010 and the five-year plan for 2011-2015.
Vietnam estimated its export turnover of apparel at US$5.02 billion in the first seven months, down 1% against the same period last year.
The task of shipping US$800 million worth of apparel per month during the remainder of the year will be too difficult for enterprises, An said.
Vinatex outlined the sector’s targets of reaching export turnovers of US$10.5 billion in 2010 and US$17 billion by 2015.
The economy will start recovering in 2010, Deputy Minister of Industry and Trade Bui Xuan Khu told the participants.
Thus, he said, the apparel sector should remain a growth of export turnover at 12% per annum during the years to come. (Vietnam & World Economy)
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