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Vietnam’s exports falling shy of 2009 target
Wednesday, 24 June 2009
Vietnam took in 27.57 billion USD
from exports in the first half of 2009, down 10 percent from the same period
last year, largely due to the impact of the world financial crisis and economic
downturn.
The figure represents 42.7 percent of the yearly target, reported
the Ministry of Industry and Trade (MoIT).
Pottery and porcelain products, rubber, electric
wires and crude oil saw the largest decreases in export revenue, while the
country’s key export staples such as footwear, wood and wooden furniture,
coffee, seafood and cashew nuts also suffered big losses.
During the reviewed period, Vietnam spent
30.64 billion USD on imports, a year-on-year drop of 31.6 percent, according to
the ministry.
To reach the yearly export turnover target of
64.57 billion USD, the industry and trade sector plans to stimulate investment
in infrastructure development and speed up the implementation of scheduled
projects.
The sector will also encourage businesses to step
up production of consumer goods, boost exports and expand markets, including
domestic outlets.
