Vietnam'S Textile Exports To The US Slowed In 2008
The US Chamber of Commerce in Vietnam reported that Vietnam's exports of textiles to the United States increased by 9% over the past year, compared with a sharp increase of 34% in 2007 this year.
Vietnam's textile exports to the United States increased rapidly. Vietnam joined the WTO in 2007. At the beginning of that year, the United States abolished quota management for Vietnam, when Vietnam's textile exports to the United States reached $4 billion 600 million.
This year, the United States imports more than $5 billion from Vietnam, even assuming that the United States has reduced its clothing imports by 20% in the last three months of this year.
In the first 9 months of 2008, Vietnam's textile exports to the United States increased by 22% over the year to 4 billion 70 million dollars, exceeding India (3 billion 900 million US dollars) and Mexico (3 billion 800 million US dollars).
In the first 9 months of this year, China's exports to the US still ranked first, at $24 billion 400 million.
Textile is Vietnam's second largest foreign exchange product, after crude oil. Last year, textiles accounted for 43% of the total exports of Vietnam to the US $10 billion 600 million.
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