Exports could reach US$239 billion this year: analysts

Vietnam could earn about 239 billion USD in export revenue in 2018 up 10 12 percent from last year analysts said thanks to the favourable domestic and international economic context
exports could reach us 239 billion this year analysts

They said three quarters of 2018 have passed with positive export outcomes, creating momentum for the country to record a trade surplus for the year. Notably, the number of goods orders often rises strongly in the last months of the year, so overseas shipments are likely to hit a new record.

According to the Department of Export and Import under the Ministry of Industry and Trade (MoIT), export turnover between January and September reached US$178.91 billion, up 15.4% year on year.

The domestic sector shipped US$51.07 billion worth of goods abroad while foreign-invested firms contributed US$127.84 billion to the total exports.

Twenty-six commodities recorded export revenue of more than US$1 billion in the period, and five of them had exports topping US$10 billion, including phones and accessories (US$36.1 billion), textiles and garments (US$22.6 billion), and electronic products, computers and components (US$21.6 billion).

Meanwhile, Vietnam imported US$173.52 billion worth of goods in the period, up 11.8% from a year earlier. That included US$69.34 billion by domestic businesses and US$104.18 billion by foreign firms.

Three of the 30 commodities with import revenue in excess of US$1 billion recorded turnover above US$10 billion, statistics showed.

As a result, the country enjoyed a trade surplus of US$5.39 billion. While the domestic sector had a deficit of US$18.26 billion, the foreign invested sector posted a surplus of US$23.62 billion.

Regarding the exports in the remainder of the year, Duong Duy Hung, Director of the MoIT’s Department of Planning, said the US-China trade friction has yet to harm Vietnam’s export growth over the past months. However, in the long term, political and trade tensions among big economies pose major challenges to exports.

Officials said three months is not a long period, so the MoIT will monitor the world situation, especially the US-China trade war, to take measures to promote exports and prevent trade fraud.

Trade promotion needs to be reformed to focus on long-term programmes promoting certain commodities and markets until concrete outcomes are gained, instead of just year-long campaigns.

Experts also said the MoIT should connect Vietnamese exporters of agricultural and fishery products with Chinese importers to boost cross-border shipments, especially of the goods Vietnam is strong at and China has high demand for like fruit, aquatic products, rice and coffee.

Source: VNA

Related News

Exports witness a rise of US$1 billion in the first 15 days of 2025

Exports witness a rise of US$1 billion in the first 15 days of 2025

VCN - Compared to the same period in 2024, exports in the first half of January 2025 increased by more than 6%, equivalent to nearly USS$1 billion.
US or China: Who will lead in Vietnamese Tra fish imports?

US or China: Who will lead in Vietnamese Tra fish imports?

VCN - Given that tra fish is a key export commodity for Vietnam's seafood industry, the question arises whether the United States will surpass China as the leading importer of this product in 2025.
Ho Chi Minh City: Diversifying forms of support for businesses exporting goods

Ho Chi Minh City: Diversifying forms of support for businesses exporting goods

VCN - To help businesses increase their exports, Ho Chi Minh City has many forms of support and connection between businesses and foreign partners to expand their markets.
Hong Kong: A gateway for Vietnamese businesses to access the Greater Bay Area market

Hong Kong: A gateway for Vietnamese businesses to access the Greater Bay Area market

VCN - According to the General Department of Customs, Vietnam-China trade is expected to reach a new record of approximately US$200 billion in 2024. This milestone marks a record in bilateral trade that Vietnam has achieved with a partner.

Latest News

Central industrial hub sets ambitious growth target in 2025

Central industrial hub sets ambitious growth target in 2025

The central province has targeted ambitious growth of up to 10 per cent with some key strategic industrial investment projects in 2025, contributing VNĐ25 trillion (US$1 billion) to the State budget.
Demand for dragon fruit in Tiền Giang Province continues to increase

Demand for dragon fruit in Tiền Giang Province continues to increase

Dragon fruit prices in Tiền Giang Province remain high after the Lunar New Year due to increased demand from China and domestic consumption.
Data centres are attracting investors in Asia

Data centres are attracting investors in Asia

The global data centre market reached new heights in 2024, driven by the growing demand for generative AI, which has triggered a new wave of investment.
Sustainable fashion presents promising niche market for textile manufacturers

Sustainable fashion presents promising niche market for textile manufacturers

The combination of sustainability and culture will open up more opportunities for Vietnamese textile enterprises to strengthen their position in the global market and capture the promising Nordic fashion market.

More News

VN

VN's car industry to diversify supply chain

While China remains a significant supplier, recent trade data highlights Việt Nam’s efforts to diversify supply to meet industry demands.
Exports of agro-forestry-aquatic products down nearly 5 per cent in January

Exports of agro-forestry-aquatic products down nearly 5 per cent in January

Việt Nam’s export value of agro-forestry-aquatic products was estimated at US$5.08 billion in January, marking a 4.9 per cent decline compared to the same period last year.
Thailand reviews anti-dumping tax on Vietnamese steel

Thailand reviews anti-dumping tax on Vietnamese steel

TRAV recommended that the Việt Nam Steel Association (VSA) notify relevant local manufacturers and exporters to answer the investigation questionnaire within the prescribed deadline.
In the first 15 days of 2025, total import-export turnover reached more than US$34 billion

In the first 15 days of 2025, total import-export turnover reached more than US$34 billion

VCN - Total import-export turnover in the first half of January 2025 reached more than US$34 billion, the trade balance had a deficit of nearly US$2 billion.
Pangasius fetch record price in early 2025

Pangasius fetch record price in early 2025

Currently, larger pangasius weighing over 1.2kg, are selling at VNĐ32,440 (US$1.29) per kilogram, a record high not seen since 2022.
Việt Nam and India trade reached $15 billion in 2024

Việt Nam and India trade reached $15 billion in 2024

Trade relations between Việt Nam and India continue to flourish, with bilateral trade turnover reaching around US$15 billion in 2024.
Việt Nam

Việt Nam's port firms thrive in 2024

Strategic investments and expansions are expected to further enhance the sector’s performance.
Software exporter looks to new pace of growth

Software exporter looks to new pace of growth

FPT Software (F-Soft) Đà Nẵng plans to earn VNĐ3.6 trillion (US$144 million) in exports in 2025 after introducing a third campus at the FPT Complex and signing a strategic deal with the city.
Việt Nam

Việt Nam's exports to EU see impressive recovery in 2024

Việt Nam’s exports to the EU made an impressive recovery in 2024, reaching nearly US$51.7 billion, an increase of $8.08 billion compared to 2023.
Read More

Your care

Latest Most read
Exports witness a rise of US$1 billion in the first 15 days of 2025

Exports witness a rise of US$1 billion in the first 15 days of 2025

Compared to the same period in 2024, exports in the first half of January 2025 increased by more than 6%, equivalent to nearly USS$1 billion.
Central industrial hub sets ambitious growth target in 2025

Central industrial hub sets ambitious growth target in 2025

The central province has targeted ambitious growth of up to 10 per cent with some key strategic industrial investment projects in 2025, contributing VNĐ25 trillion (US$1 billion) to the State budget.
Demand for dragon fruit in Tiền Giang Province continues to increase

Demand for dragon fruit in Tiền Giang Province continues to increase

Dragon fruit prices in Tiền Giang Province remain high after the Lunar New Year due to increased demand from China and domestic consumption.
Data centres are attracting investors in Asia

Data centres are attracting investors in Asia

The global data centre market reached new heights in 2024, driven by the growing demand for generative AI, which has triggered a new wave of investment.
US or China: Who will lead in Vietnamese Tra fish imports?

US or China: Who will lead in Vietnamese Tra fish imports?

Given that tra fish is a key export commodity for Vietnam's seafood industry, the question arises whether the United States will surpass China as the leading importer of this product in 2025.
Mobile Version