Exports meet half of target for seven months

Export growth rate reached 5.3 percent meeting only half of 10 percent target set early this year in the first seven months and lower 9.2 percent during the same period last year, reported the Ministry of Industry and Trade.

A shoe making plant in HCMC (Photo: SGGP)

Of these, agro-aqua-forestry products and processing industry saw a slowdown. Rice businesses experienced a shortage of large contracts from traditional markets.

Two major export fields including leather and footwear and garment and textile are under very difficult situation now.

So far, the leather and footwear export has reached only half of plan while garment and textile posted the lowest growth rate for the last ten years of 5.4 percent.

According to experts, exports contribute to 60 percent of Vietnam’s gross domestic product (GDP) annually. If the reduction trend continues, it will affect the GDP growth target of 6.7 percent set by the National Assembly in 2016.

By T. Mai – Translated by Hai Mien

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