Related Keywords: buyers are not cutting back purchases, facing downshift, Free trade agreement, lower import tariffs, lower prices, Pacific-Rim trade pact, rise of new suppliers in global market, TPP, turning toward other suppliers, Vietnam Textile and Apparel Association, Vietnam textile and garment products export
Vietnam's textiles and garment products that accounted for nearly 14 percent of the country’s exports last year, is likely to miss the annual shipment target of $31 billion this year has it is facing downshift which industry insiders attribute to the rise of new suppliers in the global market. It’s textiles and garments exports in the first six months increased only 5.1 percent to US$10.7 billion, the slowest pace since 2010.
According to figures released by the General Statistics Office of Vietnam, the industry's exports grew 8.2 percent to $22.63 billion last year.
