Last year, Vietnam’s total export turnover was USD 175.9 billion, an increase of 8.6 percent over the previous year. Therefore, the ministry has set an export turnover target of USD 188 billion for 2017, or 6.9 percent higher than last year.
A Samsung Electronics earphone production line in Vietnam.
The ministry said telephones and spare part exports were expected to reach USD 39 billion, representing a 13 percent year-on-year rise, and the products with highest export turnover in 2017.
The garment and textile products would follow with export turnover of USD 25 billion or 6 percent higher than that of last year.
Electronics, computers and spare parts are forecast to achieve export turnover of USD 22 billion, increasing 19 percent from last year.
The exports of shoes, seafood and fruits would also contribute high export turnovers of USD 14 billion, USD 7.5 billion, and USD 3 billion respectively.
Minister Tran Tuan Anh believes that in 2017, import-export turnover would continue to increase thanks to the signing of a number of free trade agreements (FTAs) and FDI inflows shifting from other countries to Vietnam. Participation in the ASEAN Economic Community would also bring opportunities to the country by expanding its export markets as well as increasing competitiveness.
Statistics from the ministry showed that last year Vietnam exported 25 products, with turnover of more than USD 1 billion each.
In 2016, the country reported a trade surplus of USD 2.68 billion, accounting for 1.52 percent of its total import-export turnover.
Vietnam’s export turnover to its traditional markets including Asia, Europe and the U.S. saw positive growth last year. The export turnover to the U.S. saw the highest growth rate of 13.2 percent, followed by Europe with 11.3 percent and Asia with 6.9 percent.
Source: VNA