The number would surpass the targets set by both the Government and the ministry, at around 8%.

Meanwhile, import value is estimated at 367 billion USD in the year, resulting in a trade surplus of some 1 billion USD, fulling the set target, the report says.

Illustrative image.

In the first half of this year, export-import value was over 371.3 billion USD, including more than 186 billion USD worth of exports, up 17.3% from the corresponding time last year.

The export of the domestic economic sector rose 19.5%, higher the 16.6% increase of the foreign direct investment (FDI) sector, including crude oil, which, the ministry said, reflects efforts by domestic firms in production and business recovery and supply chain resumption amid difficulties.

Notably, during the six-month period, 29 items reported their export turnover surpassing 1 billion USD, four items more than the same period last year, making up 91.2% of the total value.

The ministry said the enterprises have optimised free trade agreements (FTAs), especially new-generation ones, to boost exports.

Vietnam experienced export growth in the markets it has FTAs with, ranging from 12%-34%, said Tran Thanh Hai, deputy head of the MoIT’s Agency of Foreign Trade, adding that a growth rate of 30% was seen in such markets as Canada and Mexico.

The ministry said it will continue to keep a close watch on the Covid-19 situation, policy changes adopted by countries and major partners, and international trade to give consultations to the Government in the management work.

It will also pay more attention to the implementation of FTAs to help businesses optimise opportunities generated by the trade deals, step up trade promotion and further streamline administrative procedures.

GMS-Quang Tri 2022 International Trade Fair opens

The Greater Mekong Subregion (GMS) - Quang Tri 2022 International Trade Fair opened in the central province of Quang Tri on July 25.

Vietnam, Australia post record high in two-way trade

Vietnam and Australia enjoyed strong growth in two-way trade in the first half of this year at 38.45% to 8.01 billion USD for the first time, according to the Vietnam Trade Office in Australia.

Bac Giang enhances trade promotion and investment attraction

(BGO) - The Young Entrepreneur Association (YEA) in Bac Giang province has recently held trade and investment promotion conference in 2022 to enhance activities to connect business persons and member businesses of the YEA; exchange experience in trade and investment promotion between enterprises toward higher production and business efficiency.

Vietnam, India working to promote trade ties

More than 150 Indian firms operating in different spheres in India attended a trade promotion programme held by the Vietnamese Ministry of Industry and Trade in New Delhi on July 18.

Forum seeks stronger trade, investment links with OV firms in Thailand

A forum was held in Hanoi on July 11 to connect enterprises of overseas Vietnamese (OVs) in Thailand and those in the Hanoi region, creating an occasion for boosting partnerships in trade, investment and tourism.

Source: VNA