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

Vietnam is ranking the tenth largest stuff and fit exportation arouse of matter in the world. Over the last few years, Vietnams framework and decorate industry witnessed strong development with authoritative export disorder. Year by year, the fabric and garment export has been scoring up-trend in the graph of Vietnamese export commodities. Vietnamese fabric and garment products have also made a modal apprise into the world market, thus playing an authoritative role in the scotch development of the country. In 2007, Vietnam make 7.8 billion US dollars from textile and garment export. In 2008, Vietnam expect to achieve 9.5 billion US dollars, up 20 per centum 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 garment, exchange rate fluctuations, anti-dumping lawsuits, and technical barriers to be installed in umteen countries. Many experts in textile and garment industry mentioned the make of the global fiscal crisis as a main reason.

This assay will touch on terzetto factors resulted from the global monetary crisis making Vietnams textile and garment export value slide down in 2008: shortfall in orders, dropping in export price and advertise problems. The current financial crisis, which began in the US in the center field of September, 2008 and hence spread to the EU, has now become global. The current financial cri sis, equitable like any crisis, did not hap! pen 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 global 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 urgency to get a full essay, order it on our website: OrderCustomPaper.com

If you want to get a full essay, visit our page: write my paper