EXPORT TURNOVER MAY FETCH OVER US$335 BILLION BY YEAR-END

Viet Nam's export turnover is expected to reach US$335.23 billion in 2021, representing a year-on-year increase of 18.6%, according to the Ministry of Industry and Trade.

The forecast growth rate of 18.6% surpasses the Government’s preset goal of 13.6% by 4-5%.

Total trade turnover is projected to rise by 22.4% to US$ 667.5 billion, said the ministry.

In December alone, import turnover was estimated at US$ 32 billion, representing a month-on-month increase of 4.5% and a year-on-year growth of 14.7%.

Meanwhile, the nation’s import value is estimated at US$ 332.27 billion this year, up 27.9%.

The total trade volume was forecast at 667.5 billion in 2021, representing a year-on-year increase of 22.4%.

The ministry praised local enterprises especially garment and textile ones for having weathered heavy impacts of the COVID-19 pandemic, working hard very early to persistently maintain production, and promptly finalize contracts on schedules.

The ministry also attributed the “miracle” outcomes to positive momentums from FTAs, especially the trade deals inked with Canada, Mexico, the EU, and the UK.

The Southeast Asian country’s trade turnover crossed the US$500-billion mark for first time in 2019.

Source: VGP