Textile exports goes

According to General Administration of Customs, exports of textiles and garments from January to mid-July reached 12.02 billion dollars, up 6.8% compared to the same period last year.

Results on only 40% of the export target of $ 30 billion this year. Notably, the export growth of textile industry in the first 6 months of the year mainly due to the contribution of the enterprise (company) invested overseas.
According to the Association of Textile VN, low achievement is due to many reasons. In particular, the competitiveness of many SMEs are poorly VN than businesses in Cambodia, Bangladesh because they are the free trade agreements (FTAs) with countries such as the US, Europe should be entitled to tax lower productivity.
Besides, the minimum wage in countries such as Myanmar, Bangladesh, Sri Lanka also lower VN. Also due to the exchange rate of VN stable currency while countries such as the euro, yen … fell sharply, pulling the currency of the country is a direct competitor of VN in textile exports such as India, Bangladesh sale. All these factors make the financial costs of companies rose, pushing commodity prices higher VN textiles from other countries about 20-30%.