Vietnam's export growth expected at 3-4 percent this year
Vietnam's exports this year could grow by 3-4 percent despite the COVID-19 pandemic, according to the Ministry of Industry and Trade (MoIT).
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Vietnam's exports this year could grow by 3-4 percent despite the COVID-19 pandemic, according to the Ministry of Industry and Trade (MoIT).
In the context of COVID-19 pandemic's complicated developments disrupting international trade, Vietnam's exports have still maintained positive growth.
Vietnam raked in 30.05 billion USD from exporting agro-forestry-aquatic products in the first three quarters of 2020 and the value is hoped to hit over 40 billion USD for the whole year, said Deputy Minister of Agriculture and Rural Development Phung Duc Tien.
Vietnam exported 3.9 million tonnes of rice, earning 1.9 billion USD, in the first seven months of this year, according to the Department of Agro Processing and Market Development under the Ministry of Agriculture and Rural Development.
Prime Minister Nguyen Xuan Phuc has asked for more measures to boost investment, exports, and consumption in order to achieve the highest growth possible in 2020 at a national teleconference between the Government and localities on July 2.
Ninh Binh's exports fell 30.3 percent from the same month last year to 134.8 million USD in April.
Vietnam's export value saw a year-on-year increase of 4.7 percent to an estimated 82.9 billion USD in the first four months of this year, according to the General Statistics Office (GSO).
Viet Nam has exported 415.7 million cloth masks, fine dust masks, and two-layer cotton masks worth US$ 63.19 million since the beginning of 2020, the Viet Nam Customs reported.
Ninh Binh province's export turnover reached 313 million USD in the first two months of 2020, representing a year-on-year rise of 9.3 percent and higher than the country's average growth of 1.5 percent.
Vietnam has exported approximately 890,000 tonnes of rice worth US$420 million in the first two months of 2020, an increase of 27% in terms of volume and 32% in terms of value compared to the same period in 2019.
The province's exports continuously showed its impressive growth in both turnover and market in 2019, when it brought home 2.1 billion USD, up 35.2 percent from 2018 and surpassing the yearly target by 44.8 percent.
Vietnam's export turnover of wood and forestry products is forecast to hit US$11 billion in 2019, according to an official from the Vietnam Administration of Forestry (VAF).
Vietnam's export revenue was estimated at 217.05 billion USD in the first 10 months of this year, up 7.4 percent annually, according to the Ministry of Industry and Trade.
Vietnam needs a long-term strategy to increase the quality of its rice exports to create sustainable growth in the future, experts say.
Exports to all of Viet Nam's FTA partners grew well in the first nine months this year, contributing a trade surplus of US$ 6 billion in the reviewed period, according to the Ministry of Industry and Trade.
Fruit and vegetable exports in the first eight months of this year reached US$2.53 billion, down 5.8% year-on-year, according to the Agro Processing and Market Development Department (Agrotrade) under the Ministry of Agriculture and Rural Development.
Steel exports generated US$1.93 billion in the first seven months of 2019, with the US remaining the largest importer of Vietnamese steel products.
As a new free trade agreement (FTA) with the deepest integration levels ever, the EU-Vietnam Free Trade Agreement (EVFTA) will be an important impetus to foster Vietnam's exports to the EU.
Vietnam earned USD 10.17 billion from exports in the first half of June, raising the total earnings from January to June 15 to USD 111.26 billion, reported the General Department of Vietnam Customs.
The total export value of the agricultural, forestry and fishery sector in the first six months of this year was estimated at US$19.75 billion, a year-on-year increase of 2.1%.
The aquatic export turnover was estimated at VND3.2 billion in the first five months of 2019, a year-on-year decline of 1.7 percent, according the Agro Processing and Market Development Authority under the Ministry of Agriculture and Rural Development.
The exports of vegetables and fruits over the first five months of 2019 witnessed an increase of 10.3% against the same period last year, reaching US$1.83 billion, according to the Ministry of Agriculture and Rural Development.
Export turnover of agricultural, forestry and fishery products is expected to hit USD3.5 billion in April 2019, bringing the total figure for the first four months of the year to USD12.4 billion.
After a two-month trade deficit, the economy is expected to witness high export turnover this year thanks to buoyancy in export-oriented manufacturing fuelled by multilateral trade pacts.
The northern province of Ninh Binh earned an estimated of 351 million USD from exports in the first two months of this year, up 64.7 percent year-on-year, according the provincial Statistics Office.