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

Vietnam is ranking the tenth largest stuff and fit exportationation earth of matter in the world. Over the last few years, Vietnams framework and decorate industry witnessed strong development with crucial export turnover. Year by year, the fabric and garment export has been scoring up-trend in the graph of Vietnamese export commodities. Vietnamese cloth and garment products have also made a modal protect into the world market, thus playing an most-valuable role in the stinting development of the country. In 2007, Vietnam earn 7.8 billion US dollars from textile and garment export. In 2008, Vietnam expect to achieve 9.5 billion US dollars, up 20 pct 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 refractory including fierce competition with countries the right way in textile and garmen t, exchange rate fluctuations, anti-dumping lawsuits, and technical barriers to be installed in galore(postnominal) countries. Many experts in textile and garment industry mentioned the cause of the global fiscal crisis as a main reason.

This probe will touch on terzetto factors resulted from the global pecuniary crisis making Vietnams textile and garment export value slide down in 2008: shortfall in orders, drop in export price and advertise problems. The current fiscal crisis, which began in the US in the center field of September, 2008 and and so spread to the EU, has now become global. The current finan cial crisis, estimable like any crisis, did! not happen in a vacuum (Ya Libnan, 2008). The current financial crisis is rapidly turn an scotch crisis and threatens socio-economic development in many countries. Vietnam, in the context of internationalist 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 penury to get a full essay, order it on our website: OrderCustomPaper.com

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