Export Growth Rate Meets a Half of Target
Viet Nam earned US$ 96.83 billion of export turnover in the first seven months, equivalent to a half of the yearly preset goal, according a senior official.
Head of the Planning Department under the Ministry of Industry and Trade made the announcement on August 8 in Ha Noi.
According to Mr Hung, export turnover was estimated at US$ 14.7 billion in July, representing a month-on-month decline of 0.2 per cent.
The January-July export growth turnover was much lower than the rate of 9.2 per cent in the same period last year and accounted for a half of the preset goal (10 per cent).
The agro-forestry-fishery sector sharply plummeted and only picked up 0.1 per cent in July against June.
In addition, the processing industry no longer maintained high growth pace, even dropped 0.9 per cent in July against June.
On the other hand, July’s import volume saw a month-on-month decline of 1 per cent. Total import turnover was estimated at US$ 95.03 billion, or year-on-year decrease of 0.9 per cent.
In the first seven months, the country ran a trade surplus of US$ 1.8 billion, accounting for 1.9 per cent of export turnover.
According to Deputy Minister of Industry and Trade Hoang Quoc Vuong, without breaking measures, the preset goal of 10 per cent export growth rate would be out of reach.
The industry and trade sector contributed 60 per cent of national GDP and needs to spare no effort to extricate business difficulties and boost export.
In the rest of the year, the sector would focus on eight key tasks assigned by the PM, especially export procedures and administrative procedure reform.
The Deputy PM also asked for more trade promotion activities.
VGP
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