(ĐN)- According to Dong Nai Department of Statistics, total export turnover of the province's textile and garment sector reached approximately US$1.73 billion in 2016, a decrease of over 4 percent compared to 2015.
(ĐN)- According to Dong Nai Department of Statistics, total export turnover of the province's textile and garment sector reached approximately US$1.73 billion in 2016, a decrease of over 4 percent compared to 2015.
The fall in exports indicates a difficult time ahead for local garment exporters. Currently, local companies are losing orders to the hands of Chinese and Indian enterprises which can make products at lower prices.
The export price has decreased sharply in recent time due to facing stiff competition from India and China’s products, while input material prices have been increasing since the beginning of the year.
An analyst commented that Vietnam’s advantage of cheap labor costs, an important factor attracting foreign partners, no longer works because other countries even offer cheaper costs.
Reported by H.G
