Vietnam to keep export target unchanged despite global economic turbulence

The Ministry of Industry and Trade would not adjust its import and export goals despite current difficulties.

Instead it would find the most effective solutions to achieve export growth of between 7 and 7.5 percent as proposed, Minister Tran Tuan Anh said this week. To meet this target, the total export value for the whole year should reach about 260 billion USD. Vietnam earned more than 145 billion USD from exports in the past 7 months, a year on year increase of 7.5 percent. The growth in export value was mainly contributed to by 24 items with a turnover of more than 1 billion USD each. Experts have warned that the yuan devaluation could push the US-China trade conflict into a currency war, which has a greater impact on the world market than the trade war. Tensions between Japan and South Korea have raised concerns in the manufacturing industry and might have a knock-on effect with other businesses.

Source: VOV5