Vietnam’s export prospects in 2011

In 2011, Vietnam targets to reach total export turnover of about $78.8 billion, up over 10 percent from 2010′s.

In order to achieve this target, according to economists, the orientation of key export items this year will include the group of materials with crude oil export at eight million tonnes, coal export at 15 million tonnes.

As for the group of agro-forestry and fisheries products: seafood export expects to earn $6 billion, rice export at 6.5 million tonnes, coffee at 1.1 million tonnes and rubber at 800,000 tonnes.

Regarding the group of processing and manufacturing products: apparel products and footwear will continue to be key export commodities with export turnover of over $13 billion and $6 billion respectively. The country also should focus on exports of new items such as seagoing vessel, mechanical products, handicrafts, processed foods, timber products, consumer goods and plastic products.

Exports of electronic products expect to earn about $4 billion.

According to the deputy minister of industry and trade, Nguyen Thanh Bien, the export results in 2010 were the “bright spots” of Vietnam’s economy with total export turnover estimated at $71.63 billion, up 25.5 percent y-o-y.

Till the end of November, 2010, the country had 16 commodities with export turnover of over $1 billion. Particularly, apparel products led the group with over $10 billion of export turnover, followed by footwear with $4.5 billion, seafood ($4.494 billion), crude oil ($4.464 billion), electronic products and computers ($3.2 billion), and then cashew, coffee, rice, coal, oil and gas, rubber, precious stones and metals, machinery, equipments, instruments, electricity wires and cables, transport means and spare parts. – Vietbiz24

Tags: Vietnam exports, Vietnam exports 2011, Vietnam trade