Vietnam’s export turnover projected to hit 535 billion USD by 2030
(VOVWORLD) - Vietnam’s export turnover is projected to record an annual average growth of 7% per year, hitting 535 billion USD by 2030, according to new research by Standard Chartered issued on Tuesday.
 Illustrative photo. (Source: baodautu.vn) |
The "Future of Trade 2030: Trends and markets to watch " also forecasts that global exports will almost double to nearly 30 trillion USD over the next decade.
Vietnam is considered an important market contributing to the growth of the global trade, it said. It also found that 41% of global businesses currently operate or plan to invest in Vietnam within the next five to 10 years and that Vietnam will be one of the drivers of global trade growth.
The US and China will continue to be Vietnam's largest export markets by 2030.
According to the study, Vietnam is an emerging manufacturing powerhouse with expanding international trading relationships.
Michele Wee, CEO of Standard Chartered Bank Vietnam, confirmed Vietnam’s increasing integration into the world economy through various free trade agreements (FTAs) such as the EU-Vietnam FTA and the UK-Vietnam FTA brings the nation many advantages. These allow Vietnam to expand its exports, move up value chains across sectors, and create skilled jobs.