Export Revenue Expected to Rise 10 Pct in 2018

Vietnam's total export revenue is forecast to reach US$236.6 billion for the whole of 2018, an increase of 10 per cent over 2017, according to the Ministry of Industry and Trade (MoIT).

Key export products with high export revenue are predicted to continue grow in 2018, including phones and components with an export revenue of US$50, an annual increase of 10.4 per cent, and computers and components with an estimated export value of US$30 billion, an annual increase of 15.6 per cent.

They are followed by garments and textiles with an anticipated export turnover of US$28.5 billion for the whole of 2018, up 9.5 per cent compared to 2017.

The exports of footwear is projected to reach US$16 billion, an annual rise of 9.2 per cent, while the export revenue of machinery, equipment and components is estimated to gain US$14.7 billion, up 15 per cent over 2017.

The MoIT has forecast that the exports of electronic products will continue to expand in the remaining months of this year as electronics giant Samsung will continue to sell new products in the third quarter of this year, in addition to the expanded production of TV screens by the Samsung Display project.

The ministry noted that the exports of agricultural and seafood products will see increases from the third quarter of this year and reach the highest level by the year end according to the yearly cycle.

However, Vietnam's exports will continue to face challenges due to increasing trade protection measures and stricter regulations on food safety and environmental protection, the MoIT stated.

NDO