Service Exports up 29.1 per cent in Jan-July

The fast-growing country of Vietnam is forecast to bag US$2.98 billion from services exports in the first seven months of this year, up 29.1 per cent on-year, according to the Ministry of Trade (MoT).

 

Service and tourism industries remain the country’s big cash earners during the period, said the ministry.

 

Vietnam is estimated to receive 2.15 million international tourists since early this year, up 7 per cent over the same period last year. Notably, the number of South Korean, Japanese and American visitors increased by 32 per cent, 22.9 per cent and 17.9 per cent on-year, respectively.

 

Meanwhile, the country spent up to US$3.33 billion for services imports during the time, up 19.5 per cent on-year, resulting in the nation’s service deficit of US$350 million.

 

According to the ministry, the country plans to obtain annual services export growth of 16.3 per cent in the 2006-2010 period and its turnover will be estimated at around US$12 billion in 2010.