Export growth 50% of target
Trade ministry asked to achieve 10% export growth | |
Textile exports up 5.67% | |
Hanoi Exports Post 0.2% Growth |
The country’s total export turnover in the first seven months of the year was US$96.83 billion. |
However, the growth of total export turnover in this period was much lower than that of 9.2% in the same period last year, meeting only half the target.
Hung told a meeting in Hanoi on August 8 that the total export turnover in July was US$14.7 billion, 0.2% less than the previous month. July exports by the agro-forestry and fishery sector rose only 0.1% from June.
In addition, the processing industry has not maintained its high growth rate of previous years, with a turnover drop of 0.9% compared to June.
“The declining export prices have been the main reason for the decrease of the manufacturing sector,” he said.
The country’s import turnover last month was also 1% lower than June’s. In the January-June period, the total import turnover reached US$95.03 billion, posting a 0.9% year-on-year decrease.
Vietnam saw a trade surplus of US$1.8 billion in the first seven months of 2016, equal to 1.9% of the total export turnover.
Deputy minister Hoang Quoc Vuong said the country would be hard pressed to meet the targeted export growth rate of 10% for the whole year barring breakthrough solutions.
Vuong asked the industry and trade sector to focus on providing solutions to ease difficulties for business, thus promoting exports.
“The industry and trade sector has contributed 60% of GDP for the country. The sector should make great efforts in the year-end months,” he added.
Nearly 5,000 tariff lines to go down to zero under Vietnam-EAEU FTA Import tax on 4 959 types of goods from the Eurasian Economic Union EAEU countries will be ... |
Minister Tran Tuan Anh also asked departments to review regulations relating to export procedures to facilitate exports. He urged relevant agencies to enhance trade promotion in order to find new markets.
Related News
To maintain its billion-dollar export position, forestry and fisheries enterprises propose additional credit limits
06:15 | 28/04/2024 Import-Export
Opportunity for exporting to Thailand market
14:48 | 27/04/2024 Import-Export
Latest News
Efforts to supply US $ one billion of raw materials and cosmetics to replace imported goods
06:14 | 28/04/2024 Import-Export
Ample room for Quang Ninh to attract FDI
19:47 | 27/04/2024 Import-Export
Vietnam’s rice exports may exceed 2024 target
19:46 | 27/04/2024 Import-Export
Enterprises want clearer regulations on seafood production
14:05 | 26/04/2024 Import-Export
More News
Vietnam ranks fifth among aquatic product suppliers for Singapore
13:53 | 26/04/2024 Import-Export
Forum seeks to increase PPP investment effectiveness
13:48 | 25/04/2024 Import-Export
Linking businesses with cooperatives to increase the value chain
09:42 | 25/04/2024 Import-Export
Vietnam has a trade deficit of over US$17 billion with China
15:34 | 24/04/2024 Import-Export
Tra fish export to UAE jumps 67% in Q1
13:46 | 24/04/2024 Import-Export
Pepper prices continue increase trend
13:44 | 24/04/2024 Import-Export
More efforts needed to maintain export growth to China: Insiders
13:55 | 23/04/2024 Import-Export
It is expected that there are higher orders and revenue in the second quarter from European businesses
09:31 | 23/04/2024 Import-Export
Vietnamese rice prices on the hike
15:08 | 22/04/2024 Import-Export
Your care
To maintain its billion-dollar export position, forestry and fisheries enterprises propose additional credit limits
06:15 | 28/04/2024 Import-Export
Efforts to supply US $ one billion of raw materials and cosmetics to replace imported goods
06:14 | 28/04/2024 Import-Export
Ample room for Quang Ninh to attract FDI
19:47 | 27/04/2024 Import-Export
Vietnam’s rice exports may exceed 2024 target
19:46 | 27/04/2024 Import-Export
Opportunity for exporting to Thailand market
14:48 | 27/04/2024 Import-Export