Today: 26-12-2005
Viet Nam's export value estimated at US$32 billion
VNECONOMY updated: 26/12/2005
Earnings from exports in December were estimated at US$3 billion, bringing the country's export revenues this year to over US$32 billion, 21.6 percent more than last year, according to the Trade Ministry.
The ministry said that this year, even while facing many difficulties in outlets and severe competition, almost all export staples have recorded high growth in revenues.
Particularly, crude oil exports fetched more than US$7 billion. Aquatic products, the country' fourth largest foreign currency earner, raked in US$2.5 billion, 14 percent over last year. More than 5.2 million tonnes of rice have been exported, earning nearly US$1.4 billion, a record so far in terms of both volume and value.
Wooden furniture exports also surpassed their target, reaching more than US$1.5 billion, a 33 percent year on year increase; rubber latex fetched an export value of US$772 million; coffee, US$718 million; electronics and computer parts, US$1.5 billion.
The US is the biggest market for Vietnamese products, spending US$4.8 billion. It was followed by ASEAN countries with more than US$4.4 billion; the EU, more than US$4.3 billion; Japan, US$3.5 billion, and China, US$2.3 billion.
According to the Trade Ministry, with the target of 8 percent GDP growth for 2006 and the high export growth this year, Viet Nam targets an export value of about US$37 billion for 2006 or US$5 billion over 2005.
To this end, trade experts said efforts should focus on better management of export activities of the country's export staples, while developing and expanding the exports of new products.
In addition to the major markets such as the US, Japan and China, businesses should promote exports to India, Africa, northern America, and other markets.
The Trade Ministry will develop a trade promotion programme in accordance with the roadmap on regional and international economic integration. In addition, the ministry will also cooperate with relevant services and localities to create a favourable environment in terms of tax and customs procedure for export activities.
Source: Vietnam Agency
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