Today: 23/10/2020 09:26:32 (GMT+7)
THE CENTRAL AGENCY OF THE COMMUNIST PARTY OF VIETNAM BAC GIANG PROVINCE THE VOICE OF THE PARTY, GOVERNMENT AND PEOPLE OF BAC GIANG PROVINCE

Vietnam looks to raise exports to US$340 billion by 2025

Vietnam is aiming to increase its exports revenue to US$340 billion by 2020, as per a report on socio-economic development for the 2021-2025 period compiled by the Ministry of Industry and Trade (MOIT).

With such a target, exports should grow by an annual average of 5%.

The MOIT expects Vietnamese exports to the European and American markets to expand by 7-10% per year.

Vietnam, raise exports, exports revenue, socio-economic development, European and American markets, average growth, industrial output growth

Exports are expected to grow by an annual average of 5% during the 2021-2025 period.

In 2025 Vietnam is also expected to import US$330 billion worth of goods, with import growth averaging at 4.9% annually over the next five years.

Domestic trade is expected to contribute 13.5% to GDP in 2025, with annual average growth at about 13.5%. The MOIT aims to have revenue from retail sales and consumer services grow by 9-9.5% per year.

The proportion of retail sales through modern forms of commerce is expected to reach 35-40% by 2025, while the amount of small and medium businesses involved in e-commerce is targeted at 45%.

In the next five years, the proportion of industrial production to gross domestic product is expected at 35%.

The MOIT aims to have annual industrial output growth averaging at 7.5%, within which manufacturing will expand by over 10% per year.

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Source: NDO

Vietnam, raise exports, exports revenue, socio-economic development, European and American markets, average growth, industrial output growth
 
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