Exports up 13.8% in H1: ministry

By VNA   June 19, 2024 | 07:09 pm PT
Exports up 13.8% in H1: ministry
Cai Mep Terminal in Ba Ria – Vung Tau Province. Photo by VnExpress/Dang Khoa
Exports rose by about 13.8% year-on-year while imports grew 18.4% in the first half of this year, according to the Ministry of Industry and Trade said.

Bui Huy Son, head of the ministry's Planning and Finance Department, said at a Wednesday press conference that exports strongly bounced back in the six-month period to reach some US$188.97 billion, mainly driven by processing and manufacturing with $159.92 billion.

The total export-import value hit $369.59 billion, a year-on-year rise of 16.03%, with a trade surplus of $8.4 billion.

The agency, however, pointed to uneven recovery in industrial production, along with difficulties in energy production and supply, especially electricity and oil and gas, due to price fluctuation in both domestic and international markets.

Besides, rising prices, particularly those of farm produce and energy, and surging shipping rates remain obstacles to exports, it said, noting the pressure of trade remedies investigations and technical barriers on some key export items to big markets like the European Union (EU) and the U.S.

The ministry will also propose the Government issue more tax incentives in support of production and business, the official said, adding that it will continue cooperation with FDI firms, big enterprises and international organizations to enhance connectivity with domestic businesses, raise capacity for Vietnamese suppliers, and help those operating in support industries join the global value chain.

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