Export sector likely to exceed its annual growth target
(VOV) -Vietnam’s exports in 2013 are expected to earn US$132 billion, or over 16% higher than last year’s figure, according to the Ministry of Planning and Investment (MPI).
The PMI reported that with its imports estimated at US$132.5 billion, Vietnam has a trade deficit of around US$0.5 billion, accounting for 0.38% of its export turnover, but much lower than the set target by the Government and the National Assembly.
Last month’s trade surplus of US$50 million showed Vietnam’s 11-month imports fell to US$96 million.
The State-owned sector’s trade deficit stayed at US$12.3 billion, while the foreign direct investment (FDI) sector had an export surplus of US$12.2 billion, including US$5.6 billion from crude oil.
Key export items were agro-forestry and aquacultural products, telephones, fuels, fertilizers, and garment and textile products.
The remarkable achievements in the export sector were attributed to Vietnam’s recent progress in free trade agreement (FTA) negotiations and its active participation in the World Trade Organization (WTO) and in the framework of the Association of South East Asian Nations (ASEAN), the Asia Europe Meeting (ASEM), and the Asia-Pacific Economic Cooperation (APEC).
The country is concluding bilateral FTA negotiations with members of the European Union (EU), the European Free Trade Association (EFTA), the Customs Union, the Trans-Pacific Partnership (TPP), and the Republic of Korea (RoK).