Vietnam’s textile exports rise but target may be - sportstextiles: Lea SportsTextiles

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Vietnam’s textile exports rise but target may be missed

22/07/2016
Vietnam exported textiles and garments worth $12.8 billion in the first half of 2016, a 6% increase on the same period last year. Despite the strong performance, there are fears that a target of $31 billion for the whole of 2016 could be missed due to a fall in new orders.

Figures from Vietnam’s Ministry of Industry and Trade said that exports to the US rose 5.9% to $4.29 billion, those to Japan were up 2.9% to $1.04 billion and those to South Korea jumped 15.6% to $764.9 million.

Among the reasons listed by exporters for their uncertainty were preferential trade agreements between the US and EU with Myanmar, Laos and Cambodia, which benefit from reduced import duties and lower tariffs. Vietnam is still waiting to find out the impact of the Trans-Pacific Partnership (TPP) and a Free Trade Agreement with the EU.


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