Vietnam targets 6-7% average export growth in 2021-2030

21 Apr '22

2 min read

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Vietnamese deputy prime minister Le Van Thanh recently approved the Commodity Import-Export Strategy till 2030, aimed at achieving an average commodity exports growth of 6-7 per cent a year from 2021 to 2030. The target is to develop exports at an average annual growth of 8-9 per cent between 2021 and 2025, and 5-6 per cent per year between 2026 and 2030.

The average growth rate of goods imports is expected to reach 5-6 per cent per year in the 2021-2030 period, with 7-8 per cent per year from 2021-2025 and 4-5 per cent a year from 2026-2030, according to Vietnamese media reports.

The trade balance is expected to be maintained in the 2021-2025 period and will help towards maintaining a sustainable trade surplus in the 2026-2030 period as well as a healthy and reasonable trade balance with key trading partners.

The export proportion of processing and manufacturing industrial goods is expected to increase to 88 per cent of total export revenue by 2025 and 90 per cent by 2030, with the export proportion of medium and high-tech goods set to reach about 65 per cent by 2025 and 70 per cent by 2030.

Export markets in the European Union are expected to increase to 16-17 per cent of total export revenue by 2025 and 18-19 per cent by 2030 and those in the United States will reach 32-33 per cent of total export revenue by 2025 and 33-34 per cent by 2030, while markets in Asia will be about 49-50 per cent by 2025 and 46-47 per cent by 2030.

Fibre2Fashion News Desk (DS)

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