Export turnovers rose by 16 percent year on year to over 32 billion USD in the first six months of this year, reported the Ministry of Planning and Investment (MPI).
The global economic rebound and rises in world prices were attributable to the surge in export values.
Growth leaders include electricity wires and cables with revenues up by almost 87 percent, machines and equipment by 68 percent, pepper by over 46 percent, wood and wooden furniture by 32.5 percent.
By the end of June, nine of hard currency earners joined the 1 billion USD club, namely seafood, rice, crude oil, wood and wooden furniture, apparels, footwear, machines and equipment, electronic appliances and computers, and precious stones and metals.
The United States remained the biggest export market forVietnam, accounting for 20 percent of the national export turnovers. Second and third in the ranking were the Association of Southeast Asian Nations (ASEAN), 17 percent, and the European Union, 16 percent.
Five leading markets from which Vietnam enjoyed trade surplus were the US , the Philippines , Australia , Switzerland and Cambodia .
Economists said the yearly export target of some 63 billion USD was within reach based on the current positive trend.
Concerns however remained with alarming trade deficits which increased 450 million USD month on month to 1.2 billion USD in June.
Consequently, the total trade deficits in the first six months of the year reached 6.7 billion USD, equivalent to 20.9 percent of the gross export turnovers.
Five markets that brought in largest trade deficits to Vietnam were China , the Republic of Korea , Taiwan , Thailand and Singapore .
The Ministry of Industry and Trade (MIT) calculated that only by controlling trade deficits at around 12 billion USD in the rest of the year could the nation meet the yearly target. The National Assembly has set a target of curbing trade deficit at around 20 percent of export turnovers for the whole year.
The MIT has unveiled a plan to help exporters in global marketing, especially in cashing on agreements of free trade areas with foreign markets in an effort to boost exports and curb trade deficits.
The ministry has also encouraged exporters to boost the shipments of products of high added values and free from quotas such as electronic appliances, technology and engineering products.
A rosy picture of exports has brought in positive signs of the national economy with GDP growth up by around 6 percent in the first half of the year, according to the Ministry of Planning and Investment. The growth was reported in two consecutive quarters at the rate of 5.83 percent in the first quarter and between 6.2 and 6.4 percent in the second quarter.
The sector of agriculture, forestry and fisheries grew by between 2.7 and 3.2 percent, industry and construction by 6-6.7 percent and services by 6.8-7.2 percent./.
(VNA)
