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Vietnam’s exports likely to hit 210 billion USD this year

Vietnam’s exports are likely to hit 210 billion USD this year, up 18.9 percent, the Ministry of Industry and Trade (MoIT) forecast.
Vietnam’s exports likely to hit 210 billion USD this year ảnh 1Vietnam’s exports likely to hit 210 billion USD this year (Photo VNA)

Hanoi (VNA) – Vietnam’sexports are likely to hit 210 billion USD this year, up 18.9 percent, theMinistry of Industry and Trade (MoIT) forecast.

Exports hit 19.4 billion USD inOctober, up 0.3 percent month-on-month, of which 5.2 billion USD was contributedby the domestic economic sector, up 2.4 percent while the remaining was fromthe foreign-invested sector, down 0.4 percent.

Ten-month export revenue soared 20.7percent annually to 173.7 billion USD, surpassing the MoIT’s forecast andraising the trade surplus to 1.23 billion USD.

A representative from the MoIT’sExport-Import Agency attributed the growth to manufacturing expansion in theforeign direct investment (FDI) sector, notably Samsung Display project.

Statistics from the agency showedthat FDI enterprises, including crude oil, brought home 125.5 billion USD inten months this year, a 22.1 percent rise. Meanwhile, domestic businesses rakedin 48.2 billion USD, up 17.2 percent.

Up to 5.05 million tonnes of ricewere shipped abroad in the period, earning 2.25 billion USD, up 22.3 percent involume and 21.1 percent in value. Vietnam also signed a number of rice exportcontracts in the Philippines, China and Bangladesh.

Apart from agro-forestry-fisheries, exportsof minerals and processed industrial products also hiked 29.7 percent and 21.9percent, respectively.

Ten-month imports increased by 22percent year-on-year to 172.5 billion USD.-VNA
VNA
#Vietnam #exports #Ministry of Industry and Trade #domestic economic sector #foreign-invested sector #export revenue
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