World Bank: Vietnam exports to increase
External demand for Vietnamese exports are projected to increase in 2002, according to the World Bank country economic monitor report for spring 2002 in Hanoi on April 18.
The report assesses economic performance in 2001 and the first quarter of 2002 and takes stock of the implementation of structural reforms in the last six months.
Several important trading partner of Vietnam, such as Korea, Taiwan (China), Singapore and Malaysia experienced sharp economic declines last year. This gave Vietnamese commodity exports a blow, with prices for rice, coffee and pepper at historical lows.
According to the report, in the fourth quarter of 2001 and the early 2002, Vietnam experienced a very large decline in external demand for its exports with the growth rate in export-weighted import demand from trading partners falling from 16% in 2000 to only 0.5% in 2001. However, external demand for Vietnamese exports are projected to increase in 2002, with recovery taking hold in the United States and the region. Leading indicators suggest that industrial production and import demand will strengthen over 2002.
It said that Vietnam
