Vietnam posts $ 1.3 billion commerce surplus

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Staff course of fish for export at Sai Gon Aquatic Merchandise Buying and selling JSC in Ho Chi Minh Metropolis. NEWS FROM VIET NAM

Vietnam’s commerce steadiness posted a constructive worth of $ 1.29 billion within the first two months of this 12 months, the Common Customs Division mentioned.

The nation’s commerce turnover in January-February exceeded some $ 95.81 billion, a 25.4 p.c year-over-year enhance. Of the overall, exports amounted to $ 48.55 billion, an annual enhance of 23.2 p.c, whereas imports have been estimated at $ 47.26 billion, or 25.9 p.c greater than on the identical time final 12 months.

Overseas-invested enterprises accounted for 76.4 p.c, or $ 37.07 billion, of Vietnam’s complete export turnover. In the meantime, the home sector shipped $ 11.48 billion price of merchandise abroad.

9 commodities joined the billion greenback export membership, together with telephones and components ($ 9.3 billion, up 22.8 p.c year-on-year ); electronics, computer systems and components ($ 6.9 billion, up 27.3%); tools, equipment and components ($ 5.5 billion, up 72.6%); footwear ($ 3.2 billion, up 15.4%); and wooden and wooden merchandise ($ 2.4 billion, up 51%). They accounted for 73 p.c of the nation’s export turnover.

Vietnam additionally noticed a pointy enhance in shipments of a number of agricultural merchandise, reminiscent of vegatables and fruits ($ 610 million, up 14.6%), rubber ($ 516 million, up 109.7%) %), cashews ($ 442 million, up 21.5%) and cassava ($ 256 million, up 78.2%).

The US was Vietnam’s greatest importer, because it spent $ 14.2 billion on Vietnamese merchandise, 38.2% greater than the quantity it spent in the identical interval final 12 months . China got here second with $ 8.5 billion, adopted by the EU with $ 6.3 billion, ASEAN’s $ 4.2 billion, South Korea’s $ 3.4 billion and Japan by $ 3.2 billion.

In the meantime, the nation spent rather a lot ($ 47.26 billion) on imports, with the foreign-invested sector buying $ 31.64 billion price of merchandise overseas for manufacturing, up 31.4 p.c , whereas that of the home sector jumped 16% to fifteen.62 billion {dollars}.

In the course of the two-month interval, China was Vietnam’s largest exporter, with estimated revenues of $ 17.3 billion, up 85.7% year-on-year, adopted by the South Korea with $ 8.4 billion, ASEAN $ 5.6 billion, Japan $ 3.1 billion, EU $ 2.3 billion and $ 2.1 billion Individuals.

With the intention of supporting native companies in selling manufacturing and exports, the Ministry of Business and Commerce mentioned it can work to capitalize on the alternatives of the signed free commerce agreements to hunt measures of market growth.

As well as, it can intently monitor the world market to establish the principle export merchandise, whereas giving due consideration to the drafting measures for the event of the market.

VIET NAM NEWS / ASIA NEWS NETWORK

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