The Ministry of Industry and Trade’s reported that Vietnam is likely to obtain its export target of US$147 billion this year.

Dried fruit production at Vinamit Company (Photo: SGGP)

Export turnover is estimated to reach US$137 billion in the first 11 months, an increase of 13.7 percent over the same period last year.

Of these, the export value of state own enterprises hit US$44.8 billion, up 13 percent over the same period last year. Foreign businesses yielded US$85.4 billion from exports excluding crude oil, a year on year increase of 15.1 percent.

The export turnover is only US$10 billion behind the year’s plan. It averages US$11.5 billion a month since the beginning of this year. As a result, Vietnam might reach export target for 2014.

According to the ministry, processing industry contributed most to the export turnover with US$100.1 billion for the last 11 months, up 14.8 percent against a year ago.

Many items showed more than 20 percent growth rate such as feed and materials with 37.2 percent. The group of garment, textile, leather and footwear materials grew 20.9 percent.