Soaring inflation, rising production costs and fluctuation in exchange rates have caused great difficulties for production and import-export activities, and will linger on to the rest of the year, prompting the Ministry of Industry and Trade (MoIT) to give timely responding measures to maintain export growth.
According to the General Department of Vietnam Customs, as of September 15, the country had earned USD 265.34 billion from exports, up 17.82 percent, or USD 40 billion higher than that in the same period last year.
|Tra fish processing for export__Photo: VNA|
Commenting on the export growth so far this year, Vice Director of the Import-Export Department under the MoIT Tran Thanh Hai said that the early resumption of economic activities and advantages from free trade agreements (FTAs) have helped domestic firms strengthen exports.
Trade surplus is also a good factor contributing to the maintaining of macro-economic stability and motivating import-export activities in remaining months of this year, he said.
Hai held with the current growth pace, the country’s import-export revenue is likely to reach over USD 700 billion, with trade surplus maintained and export growth surpassing the target set by the National Assembly and Government at 7-8 percent for this year.
However, experts held this may be affected by many factors, especially amid many challenges and risks, including those brought about by the Russia-Ukraine conflict and the downturn of some markets.
In that context, State management agencies have worked hard to support the business community, including removing difficulties in exporting farm produce to China through the border, expanding the markets, and ensuring food quality and safety.
MoIT Deputy Minister Do Thang Hai said that in the rest of the year, the sector will focus on promoting exports and production by assisting domestic firms in accessing market, increasing exports and optimizing FTA commitments.