Exports predicted to reach US$66 billion

The National Centre for Socio-economic Information and Forecasting expects export earnings to hit US$66 billion this year, or 5.88 percent more than last year.

The centre has also forecast two different scenarios for the overall economy. The first is a projected target for 6-6.5 percent along with 3-3.2 percent growth for the agro-forestry and fisheries sectors, 6.4-6.8 percent for construction, and 7.1-7.9 percent for services.

Inflation would be below 10 percent and imports would be worth US$77.5 billion, 7.58 percent higher than last year.

The second is a higher growth rate of 7 percent. Exports would be worth US$67.8 billion and imports, US$80 billion.

The centre said the global and Vietnamese economies have just entered the first stage of recovery and trade and foreign direct investment will not increase in the short term. Thus, achieving high growth will require the Government to increase investment and spending.

But with growth becoming contingent on spending, there will be the risk of inflation returning, the centre warned.

VOVNews/VNA

Tags: Vietnam 2010 export turnover, Vietnam export turnover, Vietnam exports

Posted by VBN on Jan 29 2010. Filed under Import-Export. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry