Vietnam’s export turnover sets new record
Vietnam’s export turnover is expected to set a new record in 2018, estimated at244 billion USD, up 30 billion USD compared to 2017.
Illustrative image (Source: VNA) Hanoi (VNA) - Vietnam’s export turnover is expected to set a new record in
2018, estimated at 244 billion USD, up 30 billion USD compared to 2017.
In the first 10 months of 2018, the export turnover hit over 200 billion USD,up 14.2 percent against the same period last year, according to the General Statistics Office (GSO).
Export revenue of the domestic economic sector rose 16.8 percent, reaching 56.82 billion USD, while that of the foreign direct investment (FDI) sector expanded 13.2 percent to 143.45 billion USD, up 13.2 percent, accounting for 71.6 percent of the total turnover.
Many key exports gained high growth, with computers, electronics and components(up 13.9 percent), textiles and garments (over 17 percent), and machinery, equipment and spare parts (over 28 percent).
Growth was also seen in the earnings from farm produce, including fruits and vegetables (up 14.4 percent to 3.3 billion USD), coffee (1.1 percent to 3 billion USD) and rice (up 16.1 percent to 2.6 billion USD).
However, crude oil export in the period fell in both value and volume compared to last year, reaching only 1.8 billion USD, down 24.8 percent in value and 45.4 percent in volume.
According to Tran ThanhHai, deputy head of the Export-Import Department under the Ministry of Industry and Trade, Vietnam is well exploiting traditional export markets and seeking new ones.
More and more Vietnamese firms are paying attention to taking advantage of opportunities from free trade agreements (FTA) that Vietnam hassigned.
According to the Ministry of Agriculture and Rural Development, the export turnover of the group of agricultural products is forecast to exceed the goal of 40 billion USD. It is attributed to the rapid and sustainable growth of agricultural production nationwide.
Vietnam is the 15th largest exporter of agricultural products in the world.
Minister of Industry and Trade Tran Tuan Anh said Vietnamese firms have worked hard to actively build brand names and promoting their products, contributing to raising the position of Vietnamese goods in international markets, towards increasing export in the time to come.
He affirmed that more efforts would be made to accelerate administrative reform, remove difficulties, andcut down business conditions, especially simplify export procedures, thus supporting exporters.-VNA
In the first 10 months of 2018, the export turnover hit over 200 billion USD,up 14.2 percent against the same period last year, according to the General Statistics Office (GSO).
Export revenue of the domestic economic sector rose 16.8 percent, reaching 56.82 billion USD, while that of the foreign direct investment (FDI) sector expanded 13.2 percent to 143.45 billion USD, up 13.2 percent, accounting for 71.6 percent of the total turnover.
Many key exports gained high growth, with computers, electronics and components(up 13.9 percent), textiles and garments (over 17 percent), and machinery, equipment and spare parts (over 28 percent).
Growth was also seen in the earnings from farm produce, including fruits and vegetables (up 14.4 percent to 3.3 billion USD), coffee (1.1 percent to 3 billion USD) and rice (up 16.1 percent to 2.6 billion USD).
However, crude oil export in the period fell in both value and volume compared to last year, reaching only 1.8 billion USD, down 24.8 percent in value and 45.4 percent in volume.
According to Tran ThanhHai, deputy head of the Export-Import Department under the Ministry of Industry and Trade, Vietnam is well exploiting traditional export markets and seeking new ones.
More and more Vietnamese firms are paying attention to taking advantage of opportunities from free trade agreements (FTA) that Vietnam hassigned.
According to the Ministry of Agriculture and Rural Development, the export turnover of the group of agricultural products is forecast to exceed the goal of 40 billion USD. It is attributed to the rapid and sustainable growth of agricultural production nationwide.
Vietnam is the 15th largest exporter of agricultural products in the world.
Minister of Industry and Trade Tran Tuan Anh said Vietnamese firms have worked hard to actively build brand names and promoting their products, contributing to raising the position of Vietnamese goods in international markets, towards increasing export in the time to come.
He affirmed that more efforts would be made to accelerate administrative reform, remove difficulties, andcut down business conditions, especially simplify export procedures, thus supporting exporters.-VNA
You should also see
Prime Minister pays tribute to legendary founders of Vietnam
Prime Minister Pham Minh Chinh and other officials offered incense in commemoration of the Hung Kings, the legendary founders of Vietnam, at Kinh Thien Palace on Nghia Linh Mountain in Viet Tri city, the northern province of Phu Tho, on April 18 (the 10th day of the third lunar month).
See more
Business
Vietjet adds more flights to Dien Bien
To meet the rising demands to visit Dien Bien of people and tourists during the celebration of the 70th anniversary of the Dien Bien Phu victory, Vietjet increased the frequencies of flights between Hanoi, Ho Chi Minh City and the northwestern province to 28 per week.
Videos
Agro-forestry-fisheries products nearly double in Q1
Total export revenue from agro-forestry-fisheries products in the first three months of this year is estimated at over 13.5 billion USD, up nearly 22% over the same period last year, according to the Ministry of Agriculture and Rural Development.
Business
Beautycare Expo 2024 opens in Hanoi
The Beautycare Expo 2024 kicked off Hanoi on April 18, featuring over 250 booths from more than 15 countries and territories.
Business
Standard Chartered, US promote clean energy investments in Vietnam
Standard Chartered and the US Agency for International Development (USAID) have signed a Memorandum of Understanding (MoU) on green financing in Vietnam and to promote the deployment of advanced clean energy in Vietnam.
Business
Vietnam Airlines, Sun Group promote Vietnam’s tourism in RoK
National flag carrier Vietnam Airlines and Sun Group on April 17 held a tourism promotion event themed “The Magnificent Vietnam” in Seoul, aiming to promote Vietnam’s tourism potential, flights, and trade opportunities for Vietnam and the Republic of Korea (RoK).
