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Ministry predicts 2017 export growth

Products including telephones and spare parts, garment and textile, electronics and computers are expected to bring highest export turnover to the country in 2017, said the Ministry of Industry and Trade.

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A Samsung Electronics earphone production line in Viet Nam. Telephones and spare part exports are expected to reach $ 39 billion this year, representing a 13 per cent year-on-year rise.

Last year, Viet Nam’s total export turnover was US$ 175.9 billion, an increase of 8.6 per cent over the previous year. Therefore, the ministry has set an export turnover target of $ 188 billion for 2017, or 6.9 per cent higher than last year.

The ministry said telephones and spare part exports were expected to reach $ 39 billion, representing a 13 per cent year-on-year rise, and the products with highest export turnover in 2017.

The garment and textile products would follow with export turnover of $ 25 billion or 6 per cent higher than that of last year.

Electronics, computers and spare parts are forecast to achieve export turnover of $ 22 billion, increasing 19 per cent from last year.

The exports of shoes, seafood and fruits would also contribute high export turnovers of $ 14 billion, $ 7.5 billion, and $ 3 billion respectively.

Minister Tran Tuan Anh believes that in 2017, import-export turnover would continue to increase thanks to the signing of a number of free trade agreements (FTAs) and FDI inflows shifting from other countries to Viet Nam. Participation in the ASEAN Economic Community would also bring opportunities to the country by expanding its export markets as well as increasing competitiveness.

Statistics from the ministry showed that last year Viet Nam exported 25 products, with turnover of more than $ 1 billion each.

In 2016, the country reported a trade surplus of $ 2.68 billion, accounting for 1.52 per cent of its total import-export turnover.

Viet Nam’s export turnover to its traditional markets including Asia, Europe and the US saw positive growth last year. The export turnover to the US saw the highest growth rate of 13.2 per cent, followed by Europe with 11.3 per cent and Asia with 6.9 per cent. 

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