Ministry of Trade statistics show that Vietnam's textile and apparel exports are likely to suffer steep fall in the third quarter of this year, chiefly due to lack of orders from the US.
Most US orders are scheduled to be concluded by third quarter and not many new contracts have been signed. This is mainly because of the serious impact of Monitoring Mechanism, which the US Government started applying on Vietnamese textile and apparel products as of May 2007.
Long – term orders are now coming only from EU and Japan, but their volume and value is limited in comparison with their US counterparts.
In the first six months of 2007, Vietnam's textile and apparel exports reached US $3.4 billion, nearly $660 million higher than that in 2006.
According to the latest report from MOT, the exports turnover is estimated to fetch $4.24 billion in January – July 2007.
Fibre2fashion, News Desk - Vietnam
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