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Exports likely to soar by July-end

27
Jul '07
Ministry of Trade has just reported that export revenue of the country in the first seven months this year is estimated to fetch US $26.8 billion, posting a year-on-year rise of 19.6 percent. The figure of July alone is $4.25 billion.

So far, there have been seven products earning exports turnover exceeding the $1 billion mark, including crude oil ($4.43 billion), textile and apparel ($4.24 billion); footwear ($2.36 billion); electronics and computer components ($1.09 billion) and wooden furniture ($1.33 billion).

Textile and apparel is seriously affected by loss of market in the US due to monitoring mechanism. Since early this July, seldom have there been new orders made by the US, causing a modest growth of the industry.

According to Nguyen Thanh Bien, Vietnamese Deputy Minister of Trade, MOT is trying to do whatever it can to minimise the adverse impact of the US programme and achieve export targets, successfully.

Fibre2fashion, News Desk - Vietnam


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