Vietnam Earns US$16.6Bln from Industrial Exports in H1

Vietnam’s industrial products exporters are estimated to have raked in US$16.6 billion in the first six months this year, contributing 74 per cent to the country’s total export earnings, Vietnam News Agency (VNA) reported Tuesday.

 

The processing industry is the major stakeholder in exports, bringing in over US$12.3 billion or 74.3 per cent of the total.

 

During the period, garments, electronics, computer components, handicrafts, woodwork, plastic products, and electric wires and cables record surges of between 23 and 51 per cent. These are spurred on by increased demand from overseas markets such as Cambodia, Laos, the UK, Belgium, Germany, Italy, Spain, Sweden, India, Brazil and the US.

 

However, experts warned that the country’s industrial export turnover remains low due to domestic enterprises not yet fully utilizing the advantages of tax and tariff reduction policies of importing countries.

 

The Ministry of Industry (MoI) said the export turnover of industrial products, excluding crude oil, will continue to make up a substantial proportion of the country’s total export earnings.