Government export target likely to be reached

by VTV431 August 2015 Last updated at 08:18 AM

VTV.vn - According to the Department of Customs, Vietnam’s total export turnover in early August has decreased by 16% over the past month.

But the overall figure since the beginning of this year has seen an increase of nearly 9%, reaching 98.51 billion USD. Economists have high hopes that the rise in export turnover will hit the government’s scheduled target of 10% this year.

Gaining 18.6 billion USD worth of export turnover, mobile phone and electronic components have been topping the list of high-value exports. The export value of these items is now 30% higher as opposed to the same period last year.

Tran Thanh Hai, Deputy Head of Export Import Department, Ministry of Industry and Trade, said: "Exports have enjoyed a growth of 9%, an impressive number considering the global economic slowdown. The high revenue increase from cell phone and electronic component exports can be attributed to the huge FDI corporations based in Vietnam now, namely Samsung, LG, and Sony".

Textile items come second to electronic devices, with 13.7 billion USD worth of export turnover. Focusing on American and Japanese markets, the garment sector has seen its year-on-year export rise by a surprising 10%, though foreign patrons have recently cut down on their textile imports from Vietnam.

In contrast, the 8 month turnover of agricultural exports has fallen by 7% against 2014. Notably, coffee exports have been reduced by up to 30%.

Since the beginning of this year, Vietnam has lost 1 billion USD due to a huge slump in global oil prices. However, the Ministry of industry and trade assessed that export volume will increase sharply at the end of the year, making the 10% export growth target viable.

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