Import-Export Strategy to 2020 Approved
According to the 2011 – 2020 goods import and export strategy, which has recently been approved by the PM, total export turnovers in 2020 will triple the 2010 figure, or over US $2,000 per capita.
Goods export is set to grow at 11 - 12% a year in the 2011 – 2020 period, and some 10% from 2021 to 2030.
Trade deficit will have gradually decreased to below 10% by 2015. The trade balance is expected to be achieved by 2020 and the trade surplus, by 2021 – 2030 period.
The country will focus on exporting products in 4 categories, namely fuel and minerals; agriculture, forest and seafood; processed and manufactured industrial products; and new products.
Specifically, the country has set to gradually lower exports of fuel and minerals, especially raw minerals, to 4.4% by 2020 from 11.2% in 2010, and increase the proportion of processed and manufactured industrial goods in export items to 62.9% by 2020 from 40.1% in 2010.
Meanwhile, imports of some goods will be closely monitored to help reduce trade deficit in the long run, and strengthen imports of environment friendly and energy saving high technologies and machinery.
Source: VGP
Vietnamese
