(VOVworld)- Vietnamese exports earned a record 150 billion USD in 2014 giving a big boost to the national economy. VOV reporter Chung Thuy reviews Vietnam’s export achievements in 2014.

Vietnam’s exports in 2014 increased more than 13.6% over 2013. Export growth was reported for most major export items. Manufacturing accounted for more than 73% of the total, followed by agricultural and fisheries products, and minerals. Telephones and accessories earned the highest export value - more than 24 billion USD - and garment and textile products earned nearly 21 billion USD. Among exported items, 16 groups of products earned more than 2 billion USD, with garments and textiles witnessing the highest growth. Le Tien Truong is Director of the Garment and Textile Group: “This year, the world export market didn’t grow much. Though the US economy has recovered, its exports increased only a few percentage points while Europe’s exports rose 9% and Japan’s declined 1%. But Vietnam’s garment and textile exports to the US increased 12.5%, to the EU 17% and to Japan 9%.

In 2014, the Vietnamese footwear sector made a new export record earning 12 billion USD, up 18%. Vietnam has become one of the world’s 10 largest footwear exporters. Footwear enterprises took advantage of the EU’s Generalized System of Preferences which in January, 2014, reduced tariffs 3 to 4% for Vietnam. This preferential tariff helped Vietnamese footwear enterprises boost their exports to the EU, their largest footwear market. Phan Thi Thanh Xuan is Secretary General of Vietnam Footwear and Handbags Association: “In previous years our growth rate was 15%, but this year it increased to 18% thanks in large part to footwear enterprises grasping opportunities created by trade agreements to expand their markets”.

In 2014, Vietnam increased its promotional activities in the US, EU, and Russia to expand its markets, especially for agricultural and fisheries products, thus reducing dependence on just one market and minimizing losses caused by unusual market fluctuations. As a result, Vietnam’s exports of agricultural and fisheries products earned 31 billion USD, 11% more than in 2013.

This year, Vietnam essentially concluded negotiations on Free Trade Agreements with the Republic of Korea and the Customs Union of Russia, Belarus and Kazakhstan. Vietnam will complete the necessary legal procedures to finalize the agreements in 2015. Vietnam will continue negotiating the Trans-Pacific Partnership Agreement and participate in the ASEAN Economic Community in 2015. Deputy Minister of Industry and Trade Do Thang Hai said that both will be great opportunities for Vietnamese enterprises to expand their export markets and achieve higher growth: “Exports continue to be a bright spot in the national economy. Despite numerous difficulties, we managed to achieve the targets set by the National Assembly and the government, increase the value of exports, create a surplus of foreign currency, and generate more jobs. Exports will continue to be an advantage for Vietnam in the coming years. In 2015, we will sign Free Trade Agreements with the Republic of Korea and the Customs Unions which will help Vietnamese enterprises, especially seafood, footwear and garment and textile exporters to expand their markets”.

In 2014, FDI enterprises contributed more than 100 billion USD to the total export value, but with 48 billion USD earned from export, domestic exporters grew 10% showing the recovery of domestic production.

This year is forecast to be a year of economic fluctuations, but the export achievements of 2014 create momentum for Vietnam to achieve its export target of 160 billion USD in 2015.