Vietnamese Exports to US, EU in First Half to Rise Sharply

Vietnamese enterprises are anticipated to enjoy higher exports in the first half of this year to major world markets such as the US and EU, said the Ministry of Trade (MoT).

 

The MoT estimated that, exports to the US, the leading importer of Vietnamese products, would increase by 42.5 per cent on-year, up considerably from 18 per cent growth in 2004.

 

Some industries, which post the highest growth, are footwear, up 46 per cent on-year, and woodwork, up 36 per cent.

 

Besides, exports to the EU are forecast to rise by 32 per cent on-year, with 84 per cent increase in seafood and 67 per cent growth in textiles and garments.

 

Total export revenues to the two markets, however, have not been made available.

 

In the first five months of this year, Vietnam was estimated to reap US$15.08 billion from exports, up 24.2 per cent on-year, meanwhile the country’s import spending is forecast at US$16 billion, up 7.3 per cent on-year, according to the government’s General Statistics Office (GSO).

 

The figures include US$3.2 billion and US$3.6 billion in export and import values in May, up 32.2 per cent and 9.3 per cent on-year, respectively, resulting in an estimated trade deficit of US$400 million this month.

VNS, GSO