Sparkling future for exports

Buoyant export figures in January promise sunny prospects for Vietnamese exports in 2011. Vietnam’s total export value hit $6 billion in January, surging 18.1 per cent on-year.

Of the key export items, rubber posted most impressive growth with 80,000 tonnes being exported, hiking 46.5 per cent on-year. Seafood raked in $400 million in the export value, up 30 per cent on-year. Electronic items and computers saw growth of 28.4 per cent obtaining $300 million in total export value.

Textiles and garments took the lead among export items in value reaping $900 million, surging 10.6 per cent over the same period last year. The sector was earlier intended to reap in $12.5-13 billion in total export value in 2011, averaging $1.1 billion every month.

Wooden products saw a slight increase of 1.8 per cent reaching $300 million in the first month of the year. Footwear products fetched $400 million in the export value similar to January 2010 level.

Deputy minister of Industry and Trade (MoIT) Nguyen Thanh Bien said 2011 export growth would depend largely on the performance of processed items which was expected to hike 13 per cent generally in 2011. That was because export of minerals saw declines in both volume and value in some recent years while export of agricultural products had reached saturation point.

Management authorities said that support policies would be further considered and introduced to help businesses achieve export targets.

MoIT’s Vietnam Trade Promotion Agency (Vietrade) head Do Thang Hai said trade promotion plans of businesses would possibly be sealed right in early 2011, enabling them to become more active in finding new export markets as well as contacting partners from early of the year.

Vietrade leadership also promises to step up efforts in this respect based on direct proposals from the business community to help firms spur exports.

 

Feb 12^th, 2011

Source: vietnambusiness.asia