Export turnover may exceed 126 billion USD
Export turnover may exceed 126 billion USD
Vietnam’s export turnover is expected to rake in 127 billion USD, in 2013, 1 billion USD higher than the preset goal of 126 billion USD, said the Ministry of Industry and Trade (MoIT).
The MoIT’s forecasts for the second half of 2013 say the world economy has recorded positive changes following a series of economic stimulation packages adopted by big economies like the US , Japan and the EU to revitalise their markets, develop production and business and consolidate consumers’ confidence.
In Vietnam , the domestic market is forecast to be getting better at the year end when the efficiency of the Government’s Resolution No. 1 and Resolution No. 2 is promoted and industrial exports maintain a high growth rate.
According to the ministry, Vietnam will run a trade gap of an approximately 9 billion USD which accounts for 7 percent of trade turnover, lower than the goals preset by the National Assembly and the Government. Imports will meet domestic demands for production and consumption, standing at 136 billion USD.
The MoIT put forth measures to fulfill the goals, including transforming foreign promotion models, focusing on potential markets and commodities that have high demands for domestic consumption and exports.
Meanwhile, market forecast work should be strengthened. Awareness of producers and exporters on import barriers should be promoted.
In the first half of the year, the FDI sector gained higher growth rate than the domestic sector. The FDI sector acquired a trade surplus of 5.41 billion USD while domestic enterprises had a trade gap of 6.82 billion USD.
The industrial processing sector played a key role in raising the national export turnover, soaring 27.2 percent against the same period last year and making up 68.9 percent of the total export revenue. Especially, mobile phones continued to be the largest hard currency earner with 9.91 billion USD in revenue, up 97 percent against the same period last year.
In the January-June period, export turnover was estimated at 62.05 billion USD, up 16.1 percent against the same period last year. The domestic sector got 20.9 billion USD in revenue, an year-on-year increase of 2.2 percent; and the FDI sector, 41.14 billion USD (including crude oil), an year-on-year increase of 24.7 percent.
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