Exports is predicted to surge by 7-8% to US$256 billion over 2018 and imports up 10% to US$261 billion. Trade deficit is estimated at US$5 billion, making up below 3% of total export revenue.
However, the MPI has pointed out some risks and challenges facing Vietnam’s economy in 2019, driven by the negative impacts of trade wars among major economies along with the risks of geopolitics and an upward trend of trade protectionism.
There will be challenges from the national economy’s inner factors such as low technological development, gradually depleted natural resources and, different development gaps between the private and FDI sectors, especially exports and imports.
According to the MPI, the Vietnamese economy in 2019 and 2020 will signal positive signs with macroeconomic stability and higher confidence in investment environment.
The MPI put forth several objectives and major solutions for 2019, with a particular focus on improving the macro-economy, consistently keeping a check on inflation, improving the investment climate and stimulating GDP growth.
It is imperative to carry out three strategic breakthroughs: Firstly, restructuring the economy in association with renovations in the growth model: Secondly, to improve the quality of growth and labour productivity, and thirdly to enhance the economy’s competitive edge based on the set targets in the face of the fourth industrial revolution 4.0.