Total exports and imports are forecast to reach 780 billion USD this year. (Photo: VNA) Economic experts describedthe export and import panorama as highly positive, as two more groups of commodities– transport vehicles and spare parts, and fishery products – have seen 11-monthexport value of over 10 billion USD, while import of materials formanufacturing have also surged.
Bythe end of November, exports and imports totalled 673.82 billion USD, higherthan the 668.54 billion USD of the whole 2021. Trade surplus stood at 10.6billion USD, compared to the 0.6 billion USD in the same period last year,according to the General Statistics Office.
TheMinistry of Agriculture and Rural Development said China’s rice import hasshifted from low to high volume in the year-end period. Some EU countries alsotend to import more rice to replace the wheat supply decline caused by theRussia - Ukraine conflict.
Thishas helped raise Vietnamese rice prices to 480 USD per tonne, 13 - 28 USDhigher than Thai rice and 60 - 65 USD higher than the Indian grain, thussubstantially contributing to this year’s export growth.
Besides,products of the processing and manufacturing industry have also enjoyed growthof 6 - 39.9% in overseas shipments, helping turn export into a “bright spot”of the economy in 2022.
Assoc.Prof. and Dr. Nguyen Thuong Lang from the Hanoi-based National EconomicsUniversity predicted that although export growth has slowed down slightlycompared to the whole-year pace, foreign trade turnover will hit a record ofabout 780 billion USD in 2022.
Thisis a stepping stone for Vietnam to achieve 1 trillion USD in trade revenue by2025, he added.
MAVu Tuan Anh, President of the Junior Chamber International Vietnam, held thatforeign direct investment remains the key driver of foreign trade. Meanwhile,processed and manufactured items are still key commodities, aside from textile-garmentand agro-forestry-fishery products, of which timber, wood items, seafood,coffee, rubber, cassava, rice, vegetables, and fruit have generated high tradesurplus./.
VNA
