Processing frozen shrimp for export (Source: VNA) Hanoi (VNA) - Vietnam exported 82.2 billion USD worth of commodities in the first two quarters of 2016, a year-on-year increase of 5.9 percent.
According to the Ministry of Industry and Trade (MoIT), the group of processing industries was not listed among sectors with impressive export growth. Meanwhile, the group of mining industries posted a tumble due to the rapid exhaustion of natural resources and the falling price of crude oil.
Economic experts said this is a negative sign for the national economy as these are key contributors to economic growth.
According to statistics from the ministry’s Export-Import Department, Vietnam had 17 types of goods reaching export values of at least 1 billion USD in the period, with the agro-forestry-aquaculture sector having five out of its nine products named in the list.
According to Le Quoc Phuong, deputy director of the MoIT’s Commercial Industry Information Centre, the reducing price of goods in the world market was one of reasons behind the slow export in some sectors of Vietnam.
He stressed the need to provide more support for businesses and facilitate their production and business, towards maintaining momentum for the export sector.
Vietnam’s export is likely to have stronger growth in the remaining months of the year as textiles and footwear manufacturers are speeding up their production for signed orders. Processing industries are also hoped to recover their growth in the period.
Vietnam is set to rake in 180 billion USD from exporting commodities in the whole year, up 10 percent compared to 2015.-VNA
