ID :
122014
Fri, 05/14/2010 - 10:34
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Shortlink :
https://oananews.org//node/122014
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Lao garment export on decline
VIENTIANE,13 MAY (KPL) - The volume of export of Lao garment industry in the first quarter of the current fiscal year has not yet revived and kept on sliding down compared to last year’s same period, according to this year’s latest record.
The garment export in the 2010 first quarter decreased by 16.4 per cent, amounted to US$36.9 million despite more purchasing orders from overseas market than last year.
The Lao Garment Industry Association pointed that the decline in garment export was caused by late service and distribution sectors. But it expected that the export volume in the second quarter would increase due to more overseas purchasing orders compared to last year’s.
The Lao garment export in last year’s first quarter amid the complicated economic environment were valued at US$44.2 million and soared by 5 per cent if compared to the 2008 figure. But last year’s second quarter the figure went down by 15 per cent, amounting to US$159 million of export.
Of the total value of the Lao garment export to its main European market, 84 per cent of the Lao garment export — in last year’s first quarter, the all-year-round figure saw a strong decline, down to US$29 million from US$133 million.
In the first quarter of this year, the export volume of Lao garment to European market accounted for 78 per cent of its entire garment export.
Lao garment export to the Japanese, Canadian and US markets has also shared a similar condition.
The association said that this year’s net value of Lao garment export would likely to rise to the 2008’s record, amounting to US$ 189 million.
However the association expressed concern of the “kip” currency appreciation that would affect the costs of domestic production such as currency exchange to offset wages. But if the national economy starts to recover the overseas order capacity will be better.
The garment export in the 2010 first quarter decreased by 16.4 per cent, amounted to US$36.9 million despite more purchasing orders from overseas market than last year.
The Lao Garment Industry Association pointed that the decline in garment export was caused by late service and distribution sectors. But it expected that the export volume in the second quarter would increase due to more overseas purchasing orders compared to last year’s.
The Lao garment export in last year’s first quarter amid the complicated economic environment were valued at US$44.2 million and soared by 5 per cent if compared to the 2008 figure. But last year’s second quarter the figure went down by 15 per cent, amounting to US$159 million of export.
Of the total value of the Lao garment export to its main European market, 84 per cent of the Lao garment export — in last year’s first quarter, the all-year-round figure saw a strong decline, down to US$29 million from US$133 million.
In the first quarter of this year, the export volume of Lao garment to European market accounted for 78 per cent of its entire garment export.
Lao garment export to the Japanese, Canadian and US markets has also shared a similar condition.
The association said that this year’s net value of Lao garment export would likely to rise to the 2008’s record, amounting to US$ 189 million.
However the association expressed concern of the “kip” currency appreciation that would affect the costs of domestic production such as currency exchange to offset wages. But if the national economy starts to recover the overseas order capacity will be better.
