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Good prospects for Vietnamese exports
The prospects for Vietnamese exports in 2010 and 2011 were discussed at a seminar in the Mekong Delta city of Can Tho on July 5.
Despite the global economic downturn, the growth in Vietnam’s gross domestic product recorded a year on year rise of almost six percent in the second quarter of 2010 and export volume had risen by 12.6 percent in May 2010.
According to the International Monetary Fund (IMF), global GDP is forecast as 4.2 percent in 2010 and 4.3 percent in 2011 with Vietnam’s GDP rising from 6-6.5 percent in two years.
In 2010 and 2011, the country’s VND/USD exchange rate is predicted to remain stable and there will be no remarkable devaluation of the Vietnamese dong in the short term. Meanwhile, the main currencies of Vietnam’s export markets, the dollar, the Japanese yen and the Chinese yuan are expected to rise but financial analysts predict the euro will become weaker.
Vietnam’s exports to Asia account for 50 percent of the country’s total export value and to the US, 23 percent. The growth of Vietnam’s exports to the euro zone will soon be equal to Asia, America, Africa and the Middle East.
Therefore, Vietnam’s total export revenues will increase by nine percent to 61.7 billion USD in 2010 and eight percent to 66.6 billion USD in 2011.
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