The decline in the country’s garment export orders is being attributed
to the eurozone debt crisis, cost saving measures adopted by Japan, and a
slowdown in the US economy..
Among the challenges faced by garment manufacturers on the domestic
front are high bank interest rates, increasing prices of raw material
imports and high cost of production..
Vietnam’s Ministry of Industry and Trade estimates the country’s total
export turnover to reach US$ 6.5 billion in January 2012, showing a
decline of 11 percent year-on-year. The drop in export turnover is due
to volatile market conditions and declining prices”
Date:2/7/2012
Source:http://www.mrketplace.com