Exports draw closer to annual goal

Monday, Oct 13, 2014 08:20

A plant at the Viet NamNational Coal - Mineral Industries Holding Corp processes coal, a significant quantity of which is exported. Viet Nam raked in US$109.63 billion from exports in the first nine months of this year. — VNA/VNS Photo Trong Dat
HA NOI (Biz Hub) — Viet Nam raked in US$109.63 billion from exports in the first nine months of the year, moving closer to its 2014 goal of $148 billion.

The nine-month figure was 14.2-per cent higher than for the same period last year. A total of $73 billion was contributed by foreign investors, up 14.1 per cent.

Earnings from apparel and mobile phones are expected to top $20 billion by the end of the year, reported the Ministry of Industry and Trade.

Month-on-month, export revenue fell by 6.6 per cent to $12.4 billion in September.

However, seafood, pepper, cashew nuts and coffee exports soared by 25 per cent while vegetables expanded by 42.7 per cent, said the deputy director of the Agency for Foreign Trade, Phan Thi Dieu Ha.

During the nine-month period, African nations became the fastest-growing importers of Vietnamese goods. Egypt and Algeria recorded a plus-50 per cent expansion.

African nations bought computers, electronic products and accessories, garments, mobile phones, buses and spare parts, machinery, footwear, construction materials, seafood, coffee and pepper.

Latin America and the Caribbean region were also among Viet Nam's major markets, buying $25.22 billion worth of goods in the first nine months, an increase of 25 per cent for the period.

Chilean importers spent a total of $354 million on Vietnamese products - a record 132.9 per cent growth that has been credited to the bilateral free-trade agreement signed in January 2014.

In July, Viet Nam shipped $250 million worth of goods to Chile while spending $203 million on imports. The figures have ended Viet Nam's long history of running a trade deficit with Chile. — VNS

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