Sectors on course to surpass 2022 export goals

Sunday, 20/11/2022 10:08
With ten-month positive results, Vietnam’s major currency earners like aquatic products, rice, coffee, footwear and handbags are very likely to exceed their export revenue targets set early this year.
Illustrative photo (Source: VNA) 

With its 10 billion USD goal this year, aquatic products already brought home 9.5 billion USD in the ten months of this year, up 34% annually. The figure for the whole year is estimated at 11.2-11.4 billion USD, a record in the past more than two decades.

The rice sector targeted selling 6.3 million tonnes worth 3.3 billion USD, but the Vietnam Food Association said 6.5 million tonnes of rice valued at 3.5 billion USD are likely to be consumed soon, given that exporters sold nearly 6.1 million tonnes for 2.95 billion USD in the past 10 months, up 17.2% in volume and 7.4% in value.

Coffee has also surpassed the goal of 3 billion USD as it earned 3.27 billion USD from exports in the period, up 33.4% in value and 10.6% in value year-on-year. It is on course to achieve 3.8 billion USD this year.

The goal of 25 billion USD by footwear and handbags sector is also within reach as it raked in 23.34 billion USD in January-October. With an average turnover of 2.2 billion USD each month, it is completely feasible to reach 27 billion USD this year.

However, the Ministry of Industry and Trade (MoIT) said in recent months, the number of new orders has been falling while inventories in retail system remain high.

Against that backdrop, the ministry directed the Vietnam Trade Offices abroad actively instruct firms to switch to Asian markets that are less impacted by inflation to diversify markets and ease reliance on traditional markets./.

CPV (Source: VNA)