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Export of textiles because of ... stable exchange rate

Ngày cập nhật: 04-26-2017

According to statistics of the General Department of Customs, in July 2016, exports of textiles and garments did not have many breakthroughs, growth in all major markets was below 5% and was the lowest growth rate in 6 last year.

According to statistics of the General Department of Customs, in July 2016, exports of textiles and garments did not have many breakthroughs, growth in all major markets was below 5% and was the lowest growth rate in 6 last year.

In the first half of August (August 1 - August 15, 2016), textiles and garments for export continued to fall by 4%, correspondingly decreased $ 45 million.

Many businesses are serious shortage of orders and competition is fierce. Therefore, even if adjusted export target reduced to $ 29 billion, this goal is also difficult to achieve when the growth of textile and apparel exports to July 2016 was only $ 13.15 billion.

Many textile and garment enterprises said that from many months, textile and garment orders have seriously reduced. Order volume of many garment enterprises is only 70% compared to the same period last year.

According to Mr. Nguyen Xuan Duong, Chairman of Hung Yen Garment Joint Stock Corporation, said that if the previous years, to this point his business almost had orders to sign contracts until the end of this year, Although it has reached the end of August, but many units still have not enough work, even eating.

It can be said, this is the most difficult period of textile and garment exporters, this difficulty is Chairman of the Song Hong Garment Company, Bui Duc Thinh said the period is "negative" because of reduced revenue. , profit drops and orders are not enough to produce.

Not only fallen orders, but export prices of textiles and clothing also decreased from 10% - 20%. "Most orders require a 10-15% discount, even with orders dropping by 20%. However, to maintain production we still have to receive to do, "Chairman of Hung Yen Garment Joint Stock Corporation Nguyen Xuan Duong share.

According to reporters, the textile and garment export market is facing many difficulties in the past, in addition to the objective factors such as the economy of some textile importers in Vietnam are facing difficulties, the Brexit event in England, ... However, one of the difficulties of the textile industry is derived from policies to keep the exchange rate of Vietnam stable.

Many businesses said that while other currencies in the major import markets have adjusted very strongly. In addition, bank interest is too high, at 8% - 10% per year, 2 to 4 times more than many countries. These factors make Vietnamese garment more expensive than competitor countries from 20% - 30%.

Nguyen Xuan Duong, General Director of Hung Yen Garment Company, concludes that the Euro (EUR) is down 18%, Japan's Yen down 17%, and China's Yuan down 8%. However, the dong exchange rate only adjusted 1-2%, making Vietnamese goods expensive and unable to compete with other countries.

In addition, the National Salary Board recently decided to adjust the minimum wage increase by 7.3% in 2017. Many garment enterprises in the country said that the decision to increase wages will continue to be a burden for garment enterprises when the difficulties of the textile and apparel industry has not been resolved.

Share with PV Infonet, vice president and general secretary of the Vietnam Textile and Apparel Association, Truong Van Cam said that the decision to increase wages from 2017 will make textile enterprises have many difficulties, greatly affecting the expenditure. The cost of enterprises, including garment enterprises such as increased labor costs, social insurance premiums, trade union fees also increased, so the competitiveness of enterprises will be reduced.

Export of textiles because of ... stable exchange rate

Export of textiles because of ... stable exchange rate

Export of textiles because of ... stable exchange rate

Export of textiles because of ... stable exchange rate

Export of textiles because of ... stable exchange rate
Export of textiles because of ... stable exchange rate
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