Thursday, August 17, 2017 - 11:09:09

EIU forecasts strong growth for Vietnam’s exports

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Vietnam’s exports are likely to keep a strong growth in the time ahead, according to the Economist Intelligence Unit (EIU), which is one of the reasons behind the EIU’s positive forecast on the country’s economic outlook in 2014 and 2015.

The research and division of The Economist Group quoted statistics showing Vietnam posted an annual export growth rate of 24.1 percent for the period 2010 – 2013; and a year-on-year increase of 13 percent for the first eight months of 2014.

In addition, the EIU said Vietnam is on its way to realise the goal of trade surplus in 2014, the third year in a row.

The US maintains its place as the top market for Vietnamese exports, buying 18.5 billion USD worth of Vietnam’s goods in first eight months of this year, a 22-percent year-on-year increase. It is followed by the EU with 17.5 billion USD, the Association of South East Asian Nations (ASEAN) with 12.4 billion USD) and China with 9.8 billion USD.

In the same period, China continues to be the largest exporter to Vietnam with 27.6 billion USD. The EIU said Vietnam is making efforts to reduce its dependence on Chinese supply of materials, noting that imports from China in the 8-month period grew by only 17 percent, a remarkable drop from the 23 percent rise in the same period last year.-VNA
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