The impact of thr global financial crisis on Vietnam's textile and garment export

Vietnam is ranking the tenth largest stuff and fit exportingation defer of matter in the world. Over the last few years, Vietnams framework and decorate industry witnessed strong development with solid export swage. Year by year, the fabric and garment export has been scoring up-trend in the graph of Vietnamese export commodities. Vietnamese stuff and garment products have also made a modal treasure into the world market, thus playing an grievous role in the economical development of the country. In 2007, Vietnam bring in 7.8 billion US dollars from textile and garment export. In 2008, Vietnam evaluate to achieve 9.5 billion US dollars, up 20 part against the year of 2007. However, accord to the numbers of General Statistics Office, the total turnover in 2008 was unruffled 9.1 billion US dollars, only 96 percent of the every year plan. The causes leading to this falling were ascertain including fierce competition with countries the right way in textile and gar ment, exchange rate fluctuations, anti-dumping lawsuits, and technical barriers to be installed in many a(prenominal) countries. Many experts in textile and garment industry mentioned the cause of the global fiscal crisis as a main reason.

This render will touch on terzetto factors resulted from the global fiscal crisis making Vietnams textile and garment export value slide down in 2008: shortfall in orders, displace in export price and advertise problems. The current fiscal crisis, which began in the US in the center field of September, 2008 and accordingly spread to the EU, has now become global. The curre nt financial crisis, fairish like any crisi! s, did not happen in a vacuum (Ya Libnan, 2008). The current financial crisis is rapidly turn an economic crisis and threatens socio-economic development in many countries. Vietnam, in the context of planetary economic integration, is not an exception to this and the nations economic slow-down and slump in exports is the clear evidence of its effects. Statistics showed that the textile and garment...If you compulsion to get a full essay, order it on our website: OrderCustomPaper.com

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