Vietnam witnessed the lowest growth in export revenues of garment and textile in the first half of 2016 in the past six years, the General Statistics Office (GSO) said on Wednesday.
Vietnam's garment, textile export revenue went up 5.1 per cent year-on-year to hit 10.7 billion US dollars.
The growth is the lowest compared with increases during the same period since 2010, according to the office.
In the first six months, lack of orders, dropping export price, rising costs, falling demand of consumers are among difficulties faced by Vietnam's garment and textile companies, reported local Bao Dau Tu (Vietnam Investment Review) online newspaper.
Nguyen Thi Thanh Huyen, general director of Vietnam National Textile and Garment Group's May 10 Garment Company, said on Bao Dau Tu that she is worried about the sector's situation in the last months of the year.
Importers are now seeking for garment and textile exporters with lower prices like Bangladesh, Cambodia and Myanmar among others, said Huyen.
Thus, it may be hard to realise the 31-billion-US dollar export revenue target set for the sector this year, reported Bao Dau Tu.
In 2015, Vietnam earned some 22.63 billion US dollars from garment and textile exports, up 8.2 per cent year-on-year, said the GSO.
Source : http://www.thefinancialexpress-bd.com
Keyword : Vietnam's garment, textile export growth, sees, six-year low.
