The Laos garment industry is expected to see slower growth rate in export this year due to the impact of the global financial crisis, the Laos newspaper Vientiane Times reported on Mar. 30.
The country's export turnover of garment this year is expected to increase only by five percent from last year's figure, President of the Laos Garment Industry Association One-Sy Boutsivongsakd was cited as saying.
In 2008, Laos earned 189 million USD from exporting garment products, a 24 percent increase from the previous year.
The association forecast an increase in exports to the country's new markets like the United States and Japan as demand in such markets remains high.
The value of garment exports to the United States increased 4.2 percent in 2008 from the previous year, while exports to Japan rose 62 percent./.