Exports set to surpass target

Wednesday, Oct 02, 2013 07:00

Shrimp are processed for export by workers of Thong Thuan Seafood Co in Ninh Thuan Province. Over the past nine months, Viet Nam's export turnover was $96.46 billion, a 17.5 per cent rise over the same period last year. — VNA/VNS Photo Danh Lam

HA NOI (Biz Hub)— The country is expected to see an export turnover of US$131 billion this year, representing a 14 per cent increase from 2012.

According to a Ministry of Industry and Trade (MoIT) forecast, turnover would be 4 per cent higher than the target set by the National Assembly earlier this year.

Its figures revealed that in the first nine months of the year, Viet Nam's export turnover was $96.46 billion, a 17.5 per cent rise over the same period last year.

The processing industry accounted for 69.7 per cent of the total, with turnover of $67.24 billion, representing 26.4 per cent year-on-year increase.

Head of the ministry's Planning Department Nguyen Tien Vy said the industry was the standout performer in the total import-export turnover.

Mobile phone and landline export turnover rose 75.5 per cent, while computers and spare parts saw a 45.3 per cent surge.

Vy said exports to the EU market in the nine-month period saw the highest growth rate at 22 per cent, following by America (14 per cent) and Asia (13 per cent) against the corresponding period last year.

The foreign direct investment sector retained its leading position in exports, accounting for 60.5 per cent of the total during the period.

Garments and textiles, shoes, computer, electronic products and spare parts from the sector made up 44 per cent of the total.

Head of the Import-Export Department Phan Van Chinh added that businesses had taken advantage of commercial trade agreements to accelerate exports.

Specifically, items which enjoyed advantages from Certificates of Origin (C/O) last month reached 60 per cent. In the South Korean market, the rate was up to 90 per cent, while that in ASEAN and Japan, 55 per cent.

Chinh said export turnover had been on an upward trend, as the country's exports traditionally surge in the last months of the year.

However, he suggested that enterprises should further make use of preferential treatment gained from signed commercial trade pacts.

In addition, management agencies should further reform administrative procedures to help grant businesses C/O.

He also called for tax payment difficulties to be resolved and guarantees to be given to exporters. — VNS

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