Vietnam 09 Exports Forecast to go Down 2.7% to US$61B
Vietnam’s total export goods value this year is projected to fall by 2.7% on-year to US$61 billion if the world economy sees slow recovery, said the Department for National Economic Issues under the Ministry of Planning and Investment (MPI).
The department also forecasts that the country will import about US$73 billion worth of goods in 2009, down 9.5% against last year.
Vietnam’s export goods value is projected to experience negative growth between 2.2% and 6.4% to between US$61.3 billion and US$58.7 billion this year, respectively, said the National Center for Socio-economic Information and Forecast (NCEIF) under the MPI.
The estimation is based on the country’s export trends over the recent years, its key export markets, and the outlook for the world’s economic recovery, said the NCEIF.
If this estimation is true, this will be the first year that Vietnam will see negative export growth since it opened up its economy in 1986.
Vietnam reported an on-year export value decrease of 13.4% to US$32.3 billion in the past seven months of this year; therefore, it will be difficult for Vietnam to achieve a 16% export value growth in the second half to reach a zero export growth this year, said the center. (Vietnam Economic Times)
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