Service Exports Up 14.5 per cent in Q1

Vietnam is estimated to earn US$1.26 billion from service exports in the first quarter of this year, up 14.5 per cent on-year, said the Ministry of Trade (MoT).

 

Of which, US$435 million was contributed in March, an on-year increase of 14.5 per cent.

 

Tourism services saw a busy season with up to one million international tourists, up 13 per cent on-year.

 

According to the ministry, the country’s trade activities reported an on-year growth rate of 7.7 per cent during the period. Total export revenue reached $10.48 billion in the first quarter, up 17.8 per cent on-year.

 

Vietnam is trying to raise its service export value to US$12 billion by 2010, according to a 2006-2010 export development plan approved by the Government.

 

Under the plan, the nation aims to achieve an annual growth rate of 16.5 per cent for service exports during the period. The expected yearly increases of insurance, telecom, finance and sea transport will be 29.3 per cent, 24.5 per cent, 22.4 per cent and 21.5 per cent, respectively. (Labour)