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The Financial Crisis Has Affected The Export Growth Of Laos Textile Industry Showing A Downward Trend.
According to Laos economic and social daily, Anssi Buswasa, President of the Lao Textile Industry Association, said in an interview that the textile industry in Laos will be affected by the financial crisis in 2009, on the grounds that Laos textiles are mainly exported to the United States, Europe and Japan. Data show that in 2007 Laos textile exports amounted to US $157 million, of which exports to the United States and Europe accounted for 15% and 80% respectively. In the first 6 months of 2008, the export amount was about US $80 million, and the export volume in the first 9 months was about US $100 million. The export growth is expected to decrease in the whole year, and will be more affected in 2009.
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