Import-Export Report 2018 released

At the event

The report provided a comprehensive picture about the country’s imports and exports last year. It was the third report to be published.

Speaking at the Ceremony, Editor-in-chief of Cong Thuong (Industry & Trade) Newspaper and Vice Chairman of the Editorial Board of Viet Nam’s Import-Export Report in 2018 Nguyen Huu Quy said that in recent years, a clear, systematic and explicit information resource is an issue of great concern to import-export businesses, researchers and policy makers.

The report reflects the achievements gained and those not yet achieved as well as the opportunities, challenges and new steps of import and export activities in 2018 compared with the previous years. At the same time, the report is considered as an effective communication tool for industry and trade sector in the process of global development and integration.

According to the published report, in 2018, Viet Nam's export turnover reached nearly US$ 243.5 billion; total import and export turnover reached over US$ 480 billion; and trade surplus reached nearly US$ 6.8 billion (three times higher than 2017).

This result has contributed positively to the overall growth of the national economy, thereby contributing significantly to GDP growth, macroeconomic stability, exchange rate stability, inflation control and balance of payment improvements.

This year, the industry and trade sector have set an export target of US$ 265 billion, an increase of 8-10% compared to 2018, andimports of US$ 268 billion, with trade deficit estimated at US$ 3 billion, the ratio of trade deficit to export turnover continues to remain below 2%.

Director of the Viet Nam Chamber of Commerce and Industry’s branch in Da Nang Nguyen Tien Quang  said that the report provided accurate and transparent information for businesses and management agencies with updated import and export policies to support businesses, reduce risks and enable them to grab market opportunities.

Chairman of Da Nang City Association of Small and Medium-sized Enterprises Pham Bac Binh said that updated, accurate market information was critical to businesses in the context of the fast-changing Industry 4.0.

Binh said the report was a reference for firms to develop their business plans and make investment decisions as well as actively participate in international integration.

The annual report aims to provide useful information and data on the industry and trade sector, and the import-export activities in particular, for State management agencies and the business community.

By Vien Nhu