HANOI, Dec. 27 (Xinhuanet) -- Vietnam is estimated to post a year-on-year surge of 28.9 percent in export turnover to 26 billion US dollars this year, the highest growth rate over the past eight years, the country's General Statistics Office said on Monday.

    Besides the four traditional biggest hard currency earners, namely crude oil, garment, footwear and seafood, Vietnam in 2004 had two new exports with turnover of more than one billion dollars, namely wooden and electronics products. Other exports with value growths of over 50 percent include coal, tea, peanuts, fruits and vegetables.

    The country is estimated to make import turnovers of 31.5 billion dollars this year, up 25 percent over last year. It imported nearly 11.8 million tons of petroleum products, up 9.2 percent.

    To realize the target of gaining a 16-percent increase in export revenue in 2005, the government has recently instructed the Ministry of Industry to develop products with potential high export growths and big added-values such as electronics appliances, agricultural machines, motorbikes and bicycles.

    The government also assigned the Ministry of Finance to build an export insurance mechanism and map out a scheme on establishing a bank in charge of supplying credits and underwriting services to import and export activities. Besides, the ministry was requested to put forth proposals on lowering some import taxes and charges, including telecommunications and seaport fees. Enditem