Vietnam's trade revenue surging 21 per cent year-to year and will surpass US$660 billion by year-end

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HANOI, Dec 18 (Vietnam news/ANN): Vietnam’s total trade value this year may reach more than US$660 billion, surging 21 per cent year-on-year, according to the latest forecast of the Ministry of Industry and Trade (MoIT).

Of the sum, the country is expected to earn US$331.1 billion from exports, up 17.2 per cent year-on-year while its imports will likely hit US$329 billion, a yearly hike of 25.2 per cent.

That may result in a slight trade surplus of US$2.1 billion, MoIT said.

This year will see 37 groups of products with export turnover of over US$1 billion, four groups higher than that of the previous year.

According to the ministry's forecast, the group of industrial processing goods will reel in the largest share of total export earnings, expected at 86.1 per cent.

That is considered a decisive factor in creating a breakthrough in the national export value as well as its trade surplus.

Meanwhile, the group of agricultural, forestry and fishery products will account for 8.4 per cent of the national export turnover.

Deputy Minister of Industry and Trade Tran Quoc Khanh attributed these positive figures to the close direction of the Government, the drastic involvement of ministries, branches and local authorities and the great efforts of the business community and the effectiveness of trade promotion activities.

Amid the extremely difficult context due to the impact of Covid-19 pandemic, ministries, sectors, localities and associations have made efforts to facilitate on-line trade promotions which have been highly appreciated by the local business community, said Khanh during the Vietnam Export Promotion Forum 2021 on Wednesday. - Vietnam News/ANN