Vietnam Textile and Garment Association (Vitas) has reported that the country’s apparel export in first ten months to two major markets US and Europe Union fell 4.5 percent and 3.5 percent correspondingly compared with the same period of 2008.
The falls are acceptable when the total demand of both markets slumped 11-13 percent year-on-year, according to Vista chair Le Quoc An.
Particularly, US apparel import from Hong Kong dropped by 21 percent in Jan-Oct, from Thailand down 25.61 percent and from India plunging 7.65 percent. In such a context, Vietnam’s apparel export to US still surged 18 percent in volume and tumbled 4.5 percent in turnover.
The fact showed that US consumers still prefer using Vietnam made apparel. However, the more important thing is the big efforts and cooperation between apparel producers and importers in re-defining pricing structure to stabilise the product and service quality.
In Europe, enterprises tried to enhance product quality and expand support service for importers as well as comply with new regulations on safety for consumers. Thanks to this, the country’s apparel export to EU in Jan-October reached approximately $1.6 billion, down only 3.5 percent against 2008 while EU’s imports in the period declined 11 percent.
At a time of global economic crisis, many Vietnamese apparel companies are focusing on marketing promotion in big cities along with the programmes of bringing products to rural areas.
According to Nguyen Thi Hong Tin-head of Vinatex’s Trade Research and Promotion Committee, when the traditional markets were narrowed, a lot of enterprises made big efforts to expand business to new markets. So, in first ten months, Vietnam made apparel into Korea jumped 50 percent and to Saudi Arabia soared 23 percent year-on-year.
In 2009, the textile and garment sector targets to reach a growth of 1 percent. With the achieved export turnover of $7.5 billion in Jan-Oct, enterprises strive to earn $850 million a month in remaining two months of this year. The full year’s targeted $9.2 percent can be reached.
Reported by Vitas, a line-up of big importers and well known brands such as Gap and Union Bay are negotiating export processing prices for 2010 with many Vietnamese firms. Nguyen Van Thoi, general director of Thai Nguyen Investment and Trading Co said that the export price his firm signed with partners for 2010 delivery has increased by 10 percent compared with the current level.
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