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Vietnam's year-end export growth forecast to slow down

HANOI, Oct. 24 (Xinhua) -- Vietnam's import and export activities will face many challenges in the last months of this year and into the next, according to the Import-Export Department under the country's Ministry of Industry and Trade.

The difficulties are posed by factors including the risk of recession in major economies triggered by goods supply disruptions and high input material prices, local newspaper Vietnam News cited Nguyen Cam Trang, deputy director of the department as reporting on Monday.

High inflation in markets, especially the main export markets of Vietnam, also reduces the demand for consumer goods, which are essential export products of the country.

Those would directly affect the export growth trend of such products as textiles, footwear and furniture shortly, Trang said.

Local experts forecast that industrial production and export growth of Vietnam will slow down in the fourth quarter, but the level of decline will be moderate.

Vietnam posted an estimated foreign trade value of 558.52 billion U.S. dollars in the first nine months of this year, up 15.1 percent year on year, with a trade surplus of 6.52 billion dollars, according to the General Statistics Office.