Export target set at US$393-394 billion in 2023: Ministry
The Ministry of Industry and Trade plans to set a target of 6% growth in export value this year, considering unpredictable factors that can affect import-export, according to Deputy Minister Do Thang Hai.
At the regular Government press conference for January on February 2, the deputy minister said export revenues reached US$371.3 billion in 2022, up 10.5% from the previous year. Thus, with the projected growth rate of 6%, total export value this year would be around US$393-394 billion.
According to Hai, falling world demand is a big challenge for Vietnam’s exports in 2023. He noted that Vietnam’s export growth will depend on such factors as the Russia-Ukraine conflict and inflation in big import markets.
Besides, tax cuts in line with roadmaps set by free trade agreements and strong investment inflows are favourable factors for export, he stressed.