HANOI: Vietnam’s exports failed to reach a growth rate target of 10%, set the year before, the government’s official website reported. With the year nearly closed, officials stated that it was unlikely to reach further than 7.5%. Total exports were around $160 billion from January to November and exports are expected to follow the same trends closing out December. “This means the 10 percent goal is practically unachievable,” the site concluded. Minister of Trade Tran Tuan Anh said that the country has faced a number of export obstacles this year with political instability in major markets dragging down consumer demand.
Some traditional exports have recorded significant growth this year, such as fruit and vegetables (up 30 percent), cashew nuts (up 16 percent) and pepper (up 16 percent). “These figures show that our farm produce is being consumed globally, benefiting both farmers and enterprises involved in industrial production,” Hai said. Vietnam’s new target for 2017 has been adjusted to a more manageable 6-7 percent.
