Ha Noi (VNA)- Export revenues in the past 11 months reached over 36.2 billion USD, representing a year-on-year increase of 23.7 percent, reported the General Statistics Office.
The agency attributed the surge to the success of eight major hard currency earners, namely aquatic products, rubber, coffee, tea, crude oil, coal, garments, and wooden products.
As a result, over 96 percent of the 37.7 billion USD yearly target for export revenues has been fulfilled, ensuring the remaining 1.5 billion USD by mid-December.
Imports also boomed in the past 11 months in preparations for production early next year with revenues up 21.4 percent from the corresponding period last year to 40.7 billion USD.
However, the imports of oil and gas, fertilisers, steel in-got and CKD vehicles, as well as automobile, garment making and textile by-products sharply decreased, showing increasing competence of domestic production.
Trade deficits therefore went down to 12.3 percent from 14.5 percent in the same period last year as evidence of the national economy's increasing competitiveness and practical preparation for the post-WTO period, said economists.
Foreign direct investment has also added to the rosy picture of the economy over the past 11 months. FDI, both newly licensed and additional investments, reached 8.2 billion USD, far surpassing the entire yearly plan of 6.5 billion USD. The figure is expected to continue increasing in December, bringing the total investment to an all time high at 9.5 billion USD.
Ho Chi Minh City and Ba Ria - Vung Tau managed to retain their leading status in this term.
Industrial production output increased 16.9 percent year- on- year to 443 trillion VND in the past 11 months. The non-State economic sector takes the lead with a growth rate of 23 percent.
Coal, clothing and processed seafood industries recorded high growth rates at 21 percent, 16percent and 12.3 percent, respectively.
The successful APEC Economic Leaders' Week in Ha Noi brought the total number of foreign arrivals to Viet Nam in the past 11 months, representing a year-on-year increase of 2.5 percent. In November, the hotel industry in Ha Noi operated at full capacity with all rooms booked. The hotel occupancy rates in Ho Chi Minh City and the central coastal province of Da Nang also reached at least 90 percent.
Achievements in the past 11 months have added to the growing confidence of businesses in Viet Nam as the country gets ready to compete with rivals from more experienced member economies, said economists.--Enditem
|