The Trade Ministry (MoT) has said Vietnam would aim for an export turnover of US$37 billion in 2006, a year-on-year increase of 16.4 per cent.
The ministry expected the country's second export earner, textiles and garments, would increase by US$700 million to reach US$5.5 billion.
If domestic exporters succeeded in North American markets and cleared away obstacles in the European market, including anti-dumping lawsuits, footwear exports would increase by US$400 million to US$3.4 billion, the ministry said.
Thanks to increased global demand of seafood resulting from the bird flu epidemic and Vietnamese fisheries' recovery following an aquaculture downturn period, Vietnam's seafood exports were forecast to be upbeat in 2006.
With better exploitation of major markets in the US, the EU, Japan, South Korea and China, the ministry expected the fisheries industry to account for US$3.1 billion of the country's total export turnover in 2006, a more than US$350 million increase from this year.
The ministry also anticipated that the export turnovers of wood and electronic products next year would surge by US$500-600 million to reach roughly US$2 billion.
However, the ministry said the country's leading earner, crude oil, would stay flat at about US$7.4 billion in 2006.
The ministry had not set a rising oil export target for next year because it forecast that global prices would not increase next year, and the product's export volume would also stay unchanged following the Government's guideline of not over exploiting the limited natural resource.
Next year's export targets for coal and rice would also stay the same. In the first 11 months of this year, the country reached record turnovers of US$571 million and US$1.33 billion from coal and rice exports.
To meet the 2006 export targets, the MoT recommended that the Government put more resources into the management of the country's major export earners, including crude oil, textile and garment, footwear, seafood and rice.
The MoT also called for the government to support exports of wood, electronics, plastics, handicrafts, electrical cable, coal, and fruits and vegetables, which all presently had high export turnovers and growth rates. The export markets and the domestic production capacity of these commodities had much potential, the MoT reported.
Other than the key markets of the US, the EU, Japan, mainland China, Australia, Singapore, Germany, England and Taiwan, domestic exporters were also urged to boost shipments to Thailand, Malaysia, Indonesia, South Korea, Hong Kong and Russia, all of which account for much of Vietnam's trade deficit, the ministry said.
An export increase to the markets of India, Africa, Canada, France, Italy, Central and South America, and Eastern Europe, where Vietnam's market share remained limited, would also boost Vietnam's 2006 exports, the MoT said.
Vietnam would likely meet its export turnover target of US$32 billion this year, with export figures standing at US$29.1 billion in the first eleven months. Domestic exporters would have to generate nearly US$100 million each day this month to stay on track.
The trade ministry urged closer co-operation to prevent hindrances to the country's exports, and suggested exporters market goods remaining in the country to boost export figures for the remainder of the year.
The MoT said export growth forecasts remained robust for seafood, wood products, coffee, cashews, handicrafts, and electronics and computer components for the rest of the year, which would help the country to meet the target.
The US was the biggest importer of Vietnamese products this year with turnover reaching US$4.8 billion, followed by the 10 member nations of the Association of Southeast Asian Nations at $4.4 billion, the EU at US$4.3 billion, Japan at US$3.5 billion, and China at US$2.3 billion.
Trade Ministry, VNA
Vietnamese
