Vietnam's exports of coffee and pepper grew slowly in the first half of 2016

According to figures released by Vietnam's Ministry of Planning and Investment, Vietnam's national exports in the first six months of 2016 were 82.24 billion US dollars, an increase of only 5.9 percent over the same period last year, down from 9.2 percent in the same period last year and well below the target of 10 percent export growth for the whole year, according to a report by Vietnam's Investment News on July 8.

Reported that Yue Planning Investment Minister Nguyen Zhiyong reported to the government that the low export growth rate was due to the slow growth of Vietnam's main export commodities such as crude oil, coffee, rubber and pepper. the export value of the processing manufacturing industry increased by only 8.2% year-on-year, less than half of the 18% increase in the same period in 2015. At the same time, exports of mineral fuels fell 38.7 per cent year-on-year due to a sharp drop in production and falling export prices of crude oil.

Nguyen Nguyen, deputy director of the Vietnam Foreign Investment Bureau, said that foreign exports usually account for 70% of Vietnam's total exports, and the export growth is mainly dependent on large projects, and this year there may not be such big projects as Samsung. In the first six months of this year, exports of foreign investment (excluding crude oil) increased by only 9.1 per cent, which is not enough to boost overall export growth. "

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