Business

Exports up 13.8% in first half: ministry

Vietnam’s exports expanded about 13.8% year-on-year in the first half of this year, and imports rose 18.4%, the Ministry of Industry and Trade (MoIT)’s Planning and Finance Department said at a press conference in Hanoi on June 19.

Vietnam’s exports expand about 13.8% year-on-year in the first half of this year. (Photo: VNA)
Vietnam’s exports expand about 13.8% year-on-year in the first half of this year. (Photo: VNA)

Hanoi (VNA) – Vietnam’s exports expanded about 13.8% year-on-year in the first half of this year, and imports rose 18.4%, the Ministry of Industry and Trade (MoIT)’s Planning and Finance Department said at a press conference in Hanoi on June 19.

Bui Huy Son, head of the department, said exports strongly bounced back in the six-month period to reach some 188.97 billion USD, mainly driven by processing and manufacturing with 159.92 billion USD.

The total export-import value hit 369.59 billion USD, a year-on-year rise of 16.03%, with a trade surplus of 8.4 billion USD.

The agency, however, pointed to uneven recovery in industrial production, along with difficulties in energy production and supply, especially electricity and oil and gas, due to price fluctuation in both domestic and international markets.

Besides, rising prices, particularly those of farm produce and energy, and surging shipping rates remain obstacles to exports, it said, noting the pressure of trade remedies investigations and technical barriers on some key export items to big markets like the European Union (EU) and the US.

Deputy Minister Nguyen Sinh Nhat Tan said to complete targets set for the second half and the entire year, the sector will continue implementing assigned tasks concertedly and effectively.

The ministry will work to perfect relevant policies and regulations, while rolling out solutions to facilitate production and ensure the stable supply for exports and the domestic market as well as energy security, he said.

Efforts will be made to accelerate public investment disbursement, and handle bottlenecks to soon put in place key projects in the fields of electricity, oil and gas, processing and manufacturing, and mining, he added.

The ministry will also propose the Government issue more tax incentives in support of production and business, the official said, adding that it will continue cooperation with FDI firms, big enterprises and international organisations to enhance connectivity with domestic businesses, raise capacity for Vietnamese suppliers, and help those operating in support industries join the global value chain./.

VNA
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