MOIT FORECASTS EXPORT BOOM

The Ministry of Industry and Trade (MoIT) forecast that export turnover would touch US$ 239 billion, representing a year-on-year surge of 11.2%, according to the Ministry of Industry and Trade.

Over 26 commodities join US$ 1 billion export club

Deputy Minister of Industry and Trade Do Thang Hai reported that in the first nine months, export turnover expanded 15.4% and was estimated at US$ 178.91 billion.

As planned, the MoIT is striving for an export growth rate of 10%. Meanwhile, the rate of 15.4% was higher than the preset goal, accounting for 75.6% of the year plan.

As of late September, 26 items entered the over US$ 1 billion club.

The biggest hard currency earners included telephones and spare parts (US$ 36.13 billion), garments and textiles (US$ 22.56 billion), computers and spare parts (US$ 21.65 billion), machines and spare parts (US$ 12.1 billion), footwear (US$ 11.77 billion).

Noticeably, export turnover of the domestic sector was higher than the FDI sector after being left behind for many years. In the January-September period, domestic export shipped US$ 51.08 billion of goods, representing a year-on-year surge of 17.5%. The surge was much higher than the rate of 5.5% in 2016.

Out of over 200 countries and territories having trade ties with Viet Nam, up to 28 export markets gained over US$ 1 billion of which five earned over US$ 5 billion and four got over US$ 10 billion (namely the U.S., China, Japan, and the Republic of Korea).

In the first nine months, Viet Nam ran a trade surplus of about US$ 5.39 billion, the highest level.

Deputy Minister Do Thang Hai assessed that proper control of trade balance has contributed to raising foreign currency supply and international balance of payments.

Accomplishing preset goals

The MoIT predicted that all preset norms would be fulfilled or even outstripped.

Export turnover would touch US$ 239 billion, representing a year-on-year surge of 11.2%. Viet Nam would run a trade surplus of about US$ 2 billion. Especially, the agro-forestry sector would enjoy a trade surplus of US$ 27.5 billion; fuels and minerals (US$ 5.1 billion); processing (US$ 196.18 billion).

Source: VGP