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Exports to Africa, South-West Asia beat annual target
Vietnam’s export earnings to Africa, and South and West Asia hit US$6.43 billion in the past three quarters of this year, exceeding the annual target by 10 percent, according to the Ministry of Industry and Trade (MoIT).
Exports to Africa earned US$3.08 billion, up 125 percent compared to the same period in 2010. South Africa was Vietnam’s largest market, importing US$1.71 billion worth of goods, followed by Senegal, Egypt, Ivory Coast and Ghana.
Meanwhile, exports decreased sharply to some African countries such as Angola (down 34 percent) and Nigeria (down 51 percent).
Export turnover to South Asia gained US$1.59 billion, a year-on-year increase of 63 percent. India, Bangladesh and Pakistan were Vietnam’s largest markets in the region, importing Vietnamese gemstones, rice, mobile phones, and seafood, as well as computers and spare parts, garments, textiles, coffee and rubber.
As a result, two-way trade turnover between Vietnam and these markets in nine months reached US$11.28 billion, a year-on-year increase of 71 percent.
MoIT Deputy Minister Nguyen Thanh Bien has warned that Vietnam will face many challenges in carrying out its 2012 plan because of the slow recovery of the world’s economy, the public debt crisis and bankruptcy risks troubling many international financial organizations.
He suggested that corporations and businesses should actively approach sources of information and develop their trademarks to effectively promote trade in other markets around in 2012.
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