Vietnam's Import-Export Report 2018 released

Thursday, 2019-04-11 12:35:33
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NDO – The Ministry of Industry and Trade announced Vietnam's Import-Export Report for 2018 at a ceremony held in Da Nang city on April 10, which provided an overall picture of the import and export situation in 2018.

Speaking at the Ceremony, Nguyen Huu Quy, Editor-in-chief of Cong Thuong (Industry & Trade) Newspaper and Vice Chairman of the Editorial Board of Vietnam’s Import-Export Report in 2018, saidthat in recent years, a clear, systematic and explicit information resource is an issue of great concern to import-export businesses, researchers and policy makers.

The annual report aims to provide useful information and data on the industry and trade sector, and the import-export activities in particular, for State management agencies and the business community.

The report reflects the achievements gained and those not yet achieved as well as the opportunities, challenges and new steps of import and export activities in 2018 compared with the previous years. At the same time, the report is considered as an effective communication tool for industry and trade sector in the process of global development and integration.

According to the published report, in 2018, Vietnam's export turnover reached nearly US$ 243.5 billion; total import and export turnover reached over US$ 480 billion; and trade surplus reached nearly US$ 6.8 billion (three times higher than 2017). This result has contributed positively to the overall growth of the national economy, thereby contributing significantly to GDP growth, macroeconomic stability, exchange rate stability, inflation control and balance of payment improvements.

In 2019, the industry and trade sector have set an export target of US$ 265 billion, an increase of 8-10% compared to 2018, andimports of US$ 268 billion, with trade deficit estimated at US$ 3 billion, the ratio of trade deficit to export turnover continues to remain below 2%.