The recovery of major markets in the West will be a key driving force for exports, especially in electronics, consumer goods and textiles, the ministry said.
The country's macroeconomic data on economic growth, the industrial production index, the purchasing managers index and export orders in recent months have also shown a positive export outlook, it noted.
However, the ministry cautioned that exporters will face several challenges next year if global geopolitical developments continue to be unpredictable.
The ministry said its focus now would be to accelerate trade promotion activities and exports at the borders and facilitate exports to the Chinese market, according to a domestic media report.
In the first 11 months this year, the country’s exports expanded by 14.4 per cent year on year (YoY) to $369.9 billion in value, according to the General Statistics Office.
The domestic industrial sector contributed $103.9 billion to the total export value—an increase of 20 per cent YoY, while the sector with foreign investment generated $266 billion—up by 12.4 per cent YoY.
The United States remained Vietnam’s largest export market during this period, with exports worth $108.9 billion.
ALCHEMPro News Desk (DS)
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