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Vietnam targets $100b export turnover
To be included in the top five largest exporters in Asean region in 2012, Vietnam has targeted to reap an export turnover of $100 billion. This is a challenging figure in the context of many difficulties for Vietnam's manufacturers and exporters.
Deputy Minister of Industry and Trade, Nguyen Thanh Bien said at "Export Promotion Forum 2012" held by Trade Promotion Bureau (Ministry of Industry and Trade) on April 5 in Hanoi.
With this target, monthly averagely, Vietnam will have to strive to gain export turnover of around $9 billion.
In the first three months of this year, the country's export turnover grew 23.6% from last Q1 but the absolute figure was only over $24.52 billion, averaging at over $8 billion per month. Therefore, the very great pressure on export value increase will be put in the second quarter and following months of 2012.
Notably, in Q1, the export turnover of 100% local invested economic areas reached only $8.98 billion, equalling to the same period last year while foreign-invested sectors posted $15.54 billion, up 43% on year.
According to trade experts, in Q1/2012, Vietnam's exports did not have advantages of price. The average export price of most agricultural products decreased, except pepper and rice. Group of mineral commodities saw a strong decline in price of coal item.
The decline in export price also brought about the reduction in export turnover of agricultural products by $330 million, coal at about $66 million. Totally, the decline of export prices led to the reduction of total $396 million in export turnover in comparison with the same period last year.
In addition, the export volume of coffee item also decreased by 58,000 tons due to unfavourable weather conditions. For rice item, the price did not increase while consumption market faced more difficulties and high rice inventory, therefore, rice export declined sharply by 67.4% or 818,000 tonnes from the same period last year.
Generally, in Q1 2012, the fall in price and quantity of export items caused the reduction of about $296 million worth of export turnover against the same period 2011.
Besides, there are a series of other causes. First, the high interest rates have affected the cost structure and competitiveness of enterprises in Vietnam. Second, the consumption market of FDI enterprises has been organized into uninterrupted chain from production to consumption in the domestic market and abroad.
In addition, Vietnamese enterprises face many difficulties in accessing consumption markets, even with the longstanding markets with major export turnover such as Asia, Europe and America, and it is more difficult with new markets like Africa, Latin America and Oceania.
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