Tuesday, 10:56, 12/01/2021
Vietnam’s port sector will flourish this year as trade in goods is expected to thrive on the back of recovery in production, domestic consumption, and export markets, according to industry analysts.
The country enjoyed robust trade last year despite COVID-19, with high export value on the back of orders from the US.
Total foreign trade was estimated at US$543.9 billion, a year-on-year increase of 5.1%, with the country posting a trade surplus of US$19.1 billion, its highest since 2016.
According to the Viet Dragon Securities Corporation, the volume of goods handled at local ports picked up after the second quarter last year, with the pandemic encouraging many multinational corporations (MNCs) to shift production to Vietnam. It said this trend will continue as Vietnam integrates more deeply via free trade agreements (FTAs).