Illustrative image (Source: VNA) The outcome surpassed the yearly target of 6-7 percentset for the industry-trade sector. And, all baskets of export products recordedgrowth of 12-43.6 percent.
Since the beginning of this year, the export turnoverof the domestic economic sector – the main driving force for the nation’seconomy – has continuously surged, nearly equal to the growth level of theforeign invested economic sector (16.1 percent).
In January-April, the domestic economic sectorrecorded 17.3 billion USD in export turnover, up 13.7 percent, an encouragingoutcome compared to a slight increase of 3.4 percent in the same period of2016.
Also in the four-month period, trade deficit from China declined, and the Republic of Korea(RoK) took the lead with 7.3 billion USD.
Vietnam has integrated extensively and intensively into the global economy and signed anumber of free trade agreements with countries and territories.
Deputy Minister of Industry and Trade Do Thang Haisuggested promoting production and increasing competitiveness of businesses andgoods to earn higher export value.
He recommended boosting domestic production andcreating high-quality and highly-competitive products in an effort to limit theimports of unnecessary products.
At the same time, the campaign “Vietnamese prioritizeto using Vietnamese goods” should be expanded and products and export marketsbe diversified, he stressed.
Apart from assistance from competent agencies,businesses need to develop such staples as farm produce, forestry and aquaticproducts, garment-textile, and footwear via developing their quality andbuilding brand names.
Experts also noted that the trade deficit currentlystands at 4.5 percent, higher than the 3.5 percent target set by the National Assembly.
They suggested taking into account the exchange ratepolicies and import structure to create the best conditions for domesticbusinesses to develop since foreign enterprises are still making up over 70percent of the total export revenue.-VNA
VNA
