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Vietnam’s export turnover up 8 per cent

Last year, Vietnam’s total export turnover was 8.6 per cent higher than the previous year. This year the target is to go 6.9 per cent higher than last year.

Garment and textile exports are expected to have a turnover six per cent higher than that of last year. Exports of electronics, computers and spare parts are forecast to achieve an export turnover 19 per cent higher than last year.

Vietnam’s export turnover to its traditional markets including Asia, Europe and the US saw positive growth last year. Export turnover to the US saw the highest growth rate of 13.2 per cent followed by Europe with 11.3 per cent and Asia with 6.9 per cent.

The country believes that in 2017 import-export turnover would continue to increase thanks to the signing of a number of free trade agreements and FDI inflows shifting from other countries to Vietnam. Participation in the Asean economic community would also bring opportunities to the country by expanding its export markets as well as increasing competitiveness.

Last year Vietnam exported 25 products, with a turnover of more than billion dollars each. In 2016, the country reported a trade surplus of 2.68 billion dollars, accounting for 1.52 per cent of its total import-export turnover.