HA NOI ?Garment export earnings in November were US$30 million less than in October, meaning the industry will fail to meet its yearly export turnover target of $5.2 billion.
The industry exported $420 million in November, bringing the total export value to $4.32 billion in the first 11 months of this year, according to the Viet Nam Textile and Apparel Association (Vitas). Insiders said that despite the industry? great efforts, it was impossible to reap the needed $1 billion in December alone.
Experts from Vitas said the industry? export earnings would reach a maximum of $500 million in December, bringing the total figure to $4.82 billion for the whole year, about $380 million lower than expected.
The chairman of Vitas, Le Quoc An, said the poor performance of local exporters and changes in the global textile and garment markets were to blame. As Viet Nam was not yet a member of the World Trade Organisation (WTO), An said the country? garment exports were still limited by quotas, notably in the US market.
Other obstacles included the price hikes of raw materials and increasing competitive pressure on domestic enterprises from regional countries. In the first 11 months of this year, Viet Nam earned around $1.5 billion from export quota categories to the American market, while the quotas restricted about $1.7 billion in garments to this market, said An.
During this period, export turnover of free quota categories to the US market reached $700 million, he added. International experts warned that in the context of the free quota system among WTO members, the sale prices for clothing products would continue to decrease.
