Vietnam’s exports are expected to total 113 billion USD this year, 4 billion USD over the target earlier in the year, said Director of the Ministry of Industry and Trade's Planning Department Nguyen Tien Vy.
In an online meeting held on October 1 to review the first three-quarter performance, Vy said overall growth in export turnover would likely not exceed 10-12 percent this year due to market challenges.
Export turnover reached nearly 83.8 billion USD in the first nine months, a 19-percent increase over the same period last year. Foreign-invested enterprises accounted for 52.5 billion USD, or 63 percent of the total.
Asian markets generated 79 percent of the country's export turnover during the nine month period. Of this figure, China accounted for 25 percent, other Southeast Asian nations, 18 percent, and other Far East nations, 57 percent.
Eighteen categories of goods saw exports in excess of 1 billion USD in the first nine months. The textile and garment industry took the lead, with exports worth 11.25 billion USD; followed by mobile phones and accessories, 8.55 billion USD; crude oil, 6.3 billion USD; electronics and computers, 5.36 billion USD, and seafood, 4.14 billion USD.
Some key classes of exports, including electronics and agriculture, were unable to increase their productivity, Vy said, calling on the Government to introduce policies to support businesses during the economic downturn.
Deputy Minister of Industry and Trade Le Duong Quang said the biggest challenge facing exports were protectionist trends in key markets.
Trade promotion would be key to overcoming these difficulties, he said, urging businesses to focus on markets which offer an immediate demand, such as Cambodia , Laos and Myanmar .
Meanwhile, Vy said, the nation's imports during the nine-moth period reached 83.8 billion USD, an increase of 6.6 percent over the same period last year, and the country enjoyed a trade surplus of 34 million USD during the period.
Foreign-invested enterprises accounted for 43.9 billion USD worth of imports, or 52 percent of the total. High import turnover was seen in electronics (9.28 billion USD), petroleum (7.1 billion USD), and steel (4.5 billion USD).-VNA
In an online meeting held on October 1 to review the first three-quarter performance, Vy said overall growth in export turnover would likely not exceed 10-12 percent this year due to market challenges.
Export turnover reached nearly 83.8 billion USD in the first nine months, a 19-percent increase over the same period last year. Foreign-invested enterprises accounted for 52.5 billion USD, or 63 percent of the total.
Asian markets generated 79 percent of the country's export turnover during the nine month period. Of this figure, China accounted for 25 percent, other Southeast Asian nations, 18 percent, and other Far East nations, 57 percent.
Eighteen categories of goods saw exports in excess of 1 billion USD in the first nine months. The textile and garment industry took the lead, with exports worth 11.25 billion USD; followed by mobile phones and accessories, 8.55 billion USD; crude oil, 6.3 billion USD; electronics and computers, 5.36 billion USD, and seafood, 4.14 billion USD.
Some key classes of exports, including electronics and agriculture, were unable to increase their productivity, Vy said, calling on the Government to introduce policies to support businesses during the economic downturn.
Deputy Minister of Industry and Trade Le Duong Quang said the biggest challenge facing exports were protectionist trends in key markets.
Trade promotion would be key to overcoming these difficulties, he said, urging businesses to focus on markets which offer an immediate demand, such as Cambodia , Laos and Myanmar .
Meanwhile, Vy said, the nation's imports during the nine-moth period reached 83.8 billion USD, an increase of 6.6 percent over the same period last year, and the country enjoyed a trade surplus of 34 million USD during the period.
Foreign-invested enterprises accounted for 43.9 billion USD worth of imports, or 52 percent of the total. High import turnover was seen in electronics (9.28 billion USD), petroleum (7.1 billion USD), and steel (4.5 billion USD).-VNA
