Tin mới
Vietnam Targets Higher Export Revenue (15/02)
15/02/2011 - 11 Lượt xem
Import, export activities contributed significantly to the socioeconomic results that Vietnam achieved last year. Could you say in brief about Vietnam's import, export results of 2010?
In 2010, Vietnam's total export revenue was estimated at about US$70.8 billion, up 24 percent (US$13.7 billion) compared with 2009 and 18 percent higher than the target set by the National Assembly. Rises in the export volume made the export value increase by US$5 billion (36.5 percent) and rises in the export price contributed US$8.7 billion (63.5 percent) to the export value. The export revenue of companies with foreign investment capital was US$38.3 billion, up 26.2 percent and accounting for 54.3 percent of the country's total export value. The export revenue of domestic companies was US$32.5 billion, up 21.5 percent.
The export results of 2010 reflected the improved competitiveness of Vietnam's export products as well as the quality of export growth.
Specifically, despite numerous difficulties caused by the global economic downturn and trade barriers, many kinds of Vietnamese products brought high export revenue in 2010. Textiles and garments remained at the top position in terms of export value (US$11 billion, up 21.3 percent compared with 2009 and accounting for 15.5 percent of the country's total export revenue), exceeding the yearly target by eight percent. Leather footwear and seafood brought export revenue of more than US$4.9 billion each, exceeding the yearly targets by 13.4 percent and 8.1 percent respectively. Revenue from rice exports reached more than US$3 billion, up 8.6 percent; rubber exports US$2.2 billion, up 73 percent, compared with the yearly targets.
Compared with 2009, an additional five kinds of products brought export revenue of more than US$1 billion each in 2010. Those included cashew nuts, petroleum, plastics, electrical wires and cables, and transportation means. So, in 2010, 18 kinds of products brought export revenue of US$1 billion or more each.
The year 2010 saw positive changes in the structure of export products, which increased the percentage of industrial products and hi-tech products while reducing the percentage of unprocessed products. Specifically, compared with 2009, the percentage of processing industry's products increased from 63.4 percent to 68.2 percent; the percentage of fuels and materials decreased from 15.2 percent to 11.1 percent; the percentage of agricultural and aquatic products decreased from 21.5 percent to 20.8 percent.
In 2010, Vietnam's exports to many Asian markets increased strongly (to India, up 133 percent, to Chinese Taipei, up 28 percent, to Hong Kong (China), up 46 percent, to the Republic of Korea (RoK), up 38 percent, and to China, up 45 percent).
The total import value of 2010 was estimated at US$82.8 billion, up 18.4 percent (US$12.85 billion) compared with 2009. Companies with 100 percent domestic capital spent US$46.9 billion on imports, which accounted for 56.6 percent of the country's total import value and up 6.85 percent (US$3 billion) compared with 2009. The import value of companies with foreign investment capital was US$35.9 billion, accounting for 43.4 percent of the country's total import value and up 37.8 percent (US$9.85 percent) compared with 2009. The trade deficit of 2010 was about US$12 billion, which equaled 16.9 percent of the country's total export value and was three percent lower than the target set by the Government.
Import activities of 2010 served well the needs of producers, exporters and consumers throughout the country. Notably, despite world market changes in supply, demand and prices of some kinds of Vietnam's strategic products, import activities contributed considerably to preventing a 'price fever' on the domestic market.
In 2010, the import of restricted goods (consumer goods, autos with nine or less than nine seats, motorbikes) increased 13 percent, which was lower than the 18.4 percent growth of the country's total import value. This was the result of active import control measures.
What do you think were the most outstanding economic results of 2010?
Vietnam implemented the 2010 Socioeconomic Development Plan in circumstances when the world economy was recovering after the global financial crisis and economic recession. Last year the Vietnamese economy was faced by lots of difficulties. Specifically, prices of fuels and input materials increased; monetary policies were tightened, leading to high loan interest rates; gold prices rose very high; foreign currency resources were in a shortage; floods damaged many localities throughout the country; many epidemics occurred in cattle and poultry - those were big difficulties for producers, importers, exporters and the whole economy.
In such a situation, the Vietnamese Government proposed many sound policies and decisive measures that helped it effectively manage the implementation of the country's socioeconomic development plan, ensure macroeconomic stability, curb inflation and obtain an economic growth rate of 6.5 percent in 2010. Ministries, departments and localities actively promoted the implementation of governmental resolutions and Prime Ministerial instructions in an effort to help businesses overcome difficulties, increase exports and control inflation.
Thanks to great efforts of entire society and effective management of the Government, the Vietnamese economy continued to achieve satisfactory results in 2010 with the country's GDP (Gross Domestic Product) growing 6.7 percent compared with 2009. Economic restructuring was continued with the industrial, construction and services sectors accounting for an increased percentage while the percentage of agricultural, forestry and fishery sectors decreased. The export revenue rose 24 percent compared with 2009 and the trade deficit equaled 16.9 percent of the total export value.
What are the forecasts for the import, export situation of 2011?
It is forecasted that there will be favorable conditions for import, export activities to expand in 2011 thanks to the recovery of the world economy and Vietnam's traditional export markets.
Under the guidance of the Government, the Prime Minister and ministries, many measures have been taken to promote production and export and restrict the trade deficit.
The output of many kinds of industrial products and some other categories of goods is predicted to increase in 2011 thanks to good results of investment attraction in recent years, especially the attraction of foreign investment in fields such as electronics, information technology and mechanical engineering.
However, it is forecasted that the Vietnamese economy will continue to encounter difficulties and challenges in 2011 due to escalating trade protection in developed countries such as those in the EU and the US.
Notably, the growth of the output of many kinds of agricultural products and minerals such as rice, coffee, rubber, seafood, crude oil and coal is predicted to be not very high in 2011.
Moreover, Vietnamese producers and exporters will have to cope with difficulties such as high prices of electricity, coal and many other kinds of goods on the world market; the lack of manual workers in some production areas such as seafood, textiles and garments, footwear; and electricity shortages.
What will the Ministry of Industry and Trade do to realize the targets set for 2011?
To contribute to realizing the 7-7.5 percent GDP growth target set for 2011, the Ministry of Industry and Trade will make efforts to increase the country's export revenue by 10 percent compared with 2010 and keep the trade deficit at not more than 18 percent of the total export value.
The ministry will continue to promote efforts to increase exports, especially to potential markets that have a high demand for imported products like those made in Vietnam.
More attention will be paid to increasing exports to traditional markets and the ones that are involved in free trade agreements, and at the same time promoting exports to new markets, especially potential markets in East Europe, West Asia, the Middle East, Africa and Latin America. Vietnam must take the advantages created by bilateral free trade agreements, especially the ones signed with Japan, China and other countries in the region, in order to promote exports to those markets.
The structure of export products will continue to be adjusted by increasing the export of products with high added value and modernizing technology and equipment to make more products that bring high export revenue. Industrial production will be expanded along with boosting support industries in order to accelerate the industrialization and modernization cause of the country.
The import of those kinds of materials that are used to make products for domestic consumption and export will be continued. Strict methods will be applied to control the import of those kinds of products that can be made in Vietnam and unessential kinds of consumer goods so that the trade deficit can be reduced gradually. /.
Source: VEN
