Business

Vietnam’s exports forecast to hit 195 billion USD in 2017

Vietnam’s export turnover is likely to hit 195 billion USD this year, up 10-11 percent compared with 2016 and 6-7 percent higher than the target set by the Prime Minister.
Vietnam’s exports forecast to hit 195 billion USD in 2017 ảnh 1Workers process squid and octopus for export to Japan at the Quang Ninh Sea Product Import-Export Company in Ha Long city (Photo: VNA)

Hanoi (VNA) – Vietnam’s export turnoveris likely to hit 195 billion USD this year, up 10-11 percent compared with 2016and 6-7 percent higher than the target set by the Prime Minister, according tothe Ministry of Industry and Trade (MoIT)’s Export-Import Department. 

The department said the country’s export revenuein the first six months of this year stood at 97.78 billion USD, representing ayear-on-year rise of 18.9 percent. 

The accumulated export-import turnover in thefirst half was close to 198.25 billion USD, a year-on-year increase of 21.5percent.

In June alone, total export-import value reached35.8 billion USD, down 1.6 percent against the previous month. Of the number,exports made up 17.8 billion USD, down 0.7 percent and imports were 18 billionUSD, down 2.5 percent.

[Agriculture sector targets 33 billion USD from exports in 2017]

The statistics show Vietnam ran a trade deficitof 200 million USD in June and nearly 2.7 billion USD during January-June,equivalent to 1.4 percent of the total export revenue. 

The country’s major exports included computers,and electronic products and components while its imports were machines,equipment, tools, fabrics, phones, plastic, garment-textile and footwear materials,petroleum. 

Experts held that the picture for export will bebrighter in the coming time based on rosy forecast for the export ofagro-fishery and industrial products like garment-textiles, footwear and timberproducts. 

Specifically, Deputy Prime Minister Trinh Dinh Dunghas signed a decision on the issuance of the rice export market developmentstrategy, which is expected to contribute to raising the country’s rice exportvalue.

MoIT Minister Tran Tuan Anh underlined the needto keep a close watch on major import markets like the US and China, whileputting forth methods to raise competitiveness of Vietnamese products in bigmarkets.-VNA
VNA
#Vietnam’s export turnover #Ministry of Industry and Trade #six-month export revenue #export-import value #trade deficit #rice export #Vietnamese products #Vietnam #Vietnamese #Vietnam news #updated Vietnam news #Vietnamplus #Vietnam News Agency
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