Vietnam first half apparel exports off 1.3%

Vietnam’s apparel exports are expected to be down 1.3 percent for the first half of 2009, according to a report by the Vietnam Textile and Apparel Association.
  

While the country was hit by a downturn in demand from the United States and European Union, it was able to expand exports in other regions, especially within Asia. In value, the exports are expected to reach $4 billion in the first half, slightly behind the industry’s target of $9.5 billion for the year, with the United States projected to account for $5 billion alone.
  

Vietnam apparel producers said export contracts fell up to 25 percent and prices 10 percent to 15 percent, but that the industry was perking up in the last couple months. As inventories have dropped to low levels, producers are expecting an increase in orders through September, but then a falloff in October unless the global economy rebounds, said a report in Friday’s VietNamNet Bridge.

 

(Source: American Shipper)