1:47:06 PM | 14/10/2008
Vietnam is estimated to earn US$15.7 billion from goods exports in the fourth quarter of this year or around US$5 billion a month, down as compared with the monthly export value of US$6 billion over the past months, said the Ministry of Industry and Trade (MoIT).
The reduction in export turnover is mainly attributed to foreseeable decreases in both volume and value of the country’s key exports like footwear, garments and textiles, and rice, added the ministry.
The footwear industry is finding hard to realize the export target of US$4.5 billion this year due to the U.S.’s on-going financial crisis and the EC’s continual application of anti-dumping duty on Vietnam’s shoes for at least seven months. In the first three quarters, total export value from footwear stood at US$3.44 billion, reported the MoIT.
The garment and textile sector is on the same boat. Local apparel exports to the U.S. market, which accounts for 55 per cent of Vietnam’s total export of this product, are falling due to the financial crisis. Additionally, the U.S.’s new safety regulation on imports will also hinder Vietnam’s penetration, noted the ministry.
Rice export value in the rest months will see no big change as the falling price of Vietnam’s rice export, added the MoIT.
According to the General Statistics Office (GSO), the country raked in US$48.57 billion from exports, up 39 per cent on-year. With the estimation, the figure for the whole year will climb to US$64.27 billion. (News, GSO Sept)
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