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Export continues to rise
Vietnam’s exports will continue to rise in the second half of this year, according to the Ministry of Industry and Trade (MoIT).
Agriculture, forestry and seafood products will grow at the rate of 17.7 percent to US$11.68 billion, accounting for 19.1 percent of the country’s total export turnover. Although the prices of rice, coffee, cashew nuts, pepper, rubber and seafood are now yet as high as in the first half of this year they will keep rising. Export volumes are likely to surpass the set target. Rice exports will reach more than 4.5 million tonnes. Earning from fuel and minerals exports are expected to increase by 37 percent compared to last year’s figure as the prices of crude oil and coal are rising rapidly. The MoIT forecast that these sectors will earn around US$13 billion from exports, accounting for 21.2 percent of the country’s total export value.
Meanwhile the growth of processing, industrial and handicraft products is lower than in the first months of this year with total export likely to reach US$36.5 billion, up 25 percent compared to last year.
Due to the increase in raw materials and production costs, the garment sector must strictly implement measures to boost production to ensure an export value of US$9.5 billion, up 23 percent compared to last year. Other products such as footwear, electric cables and mechanical products seem to fare better as the high demand for these products on the market has driven up their prices.
VOV
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