Export Value in First Half up 16 per cent

Export Value in First Half up 16 per cent

Vietnam's exports during the first six months of the year recorded an increase of 16.9 per cent over the same period in 2003, with total revenue of US$11.5 billion. However, some believe that they may not be able to keep up the same pace during the second half of the year.

Garment exporters are worried that restrictive quotas will slow them down. The matter is made worse by the complicated process of allocating quotas to exporters. They are also concerned about the quota allocation situation for 2005 and the complications during the second half of this year as they must process customers' orders for the following year.

The difference in the fast-paced growth of previous years is seen in the slight decline in aquaproduct exports this year, reaching US$929 million or only 99.46 percent of the same period of 2003, due to the US's anti-dumping case against local shrimp, and stricter hygiene requirements from importers.

One of the fastest growing export industries is furniture making, expected to grow 40 percent this year. But manufacturers have said they now face numerous difficulties because of poor performance, no stable materials supply and budget constraints on business expansion. Other exporters complain of harassment from customs, unnecessary paperwork and high costs of transport, which have all been eating into their products' competitive advantages.

However, local furniture companies are receiving more orders from American importers who are turning away from Chinese companies because of an imminent anti-dumping case.

• DKP