December 21, 2017 | 18:48 (GMT+7)
Vietnam’s exports likely to hit all-high USD 212 billion this year
Vietnam expects to earn more than USD 212 billion from exports this year, much higher than USD 176 billion last year, according to head of the Ministry of Industry and Trade (MoIT)’s Planning Department Duong Duy Hung.
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Vietnam expects to earn more than USD 212 billion from exports this year. Photo for illustration: DDDN
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The increase in the industrial
production index will also contribute to gross domestic product growth of 6.7
percent this year.
Statistics from the MoIT showed that
as of December 19, 2017, Vietnam’s
export-import revenue hit a record USD 400 billion compared to USD
100 billion a decade ago.
Tran Thanh Hai, Deputy Head of the
MoIT’s Import-Export Agency, said with the enforcement of free trade agreements
with the Republic of Korea, the Eurasian Customs Union, ASEAN and the
Regional Comprehensive Economic Partnership two years ago, Vietnam’s exports-imports have
grown rapidly to USD 400 billion this year from USD 300 billion in 2015.
Vietnam now has more than 200 trade
partners, including 29 export and 23 import markets. The country is forecast to
post a trade surplus of USD 3 billion this year, contributing to stabilizing
the macro-economy, curbing inflation and achieving all 13 socio-economic
targets set by the government.
The growth is mostly attributable to
agro-forestry-fisheries, trade, services, manufacturing and restructuring of
State-owned enterprises.
The MoIT also paid attention to
foreign markets, especially promising ones that signed trade deals with Vietnam,
as well as domestic ones, consumer price index control and administrative
reform.
The MoIT plans to continue refining
legal regulations to improve State management, deal with loss-making projects
and step up administrative reform.
Source: VNA