• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar

Talk Vietnam

All About Vietnam

  • Home
  • About Us
  • Contact Us
  • Disclaimers
  • DMCA
  • Privacy Policy
  • Submit your story

Goods sales drop dramatically, from autos to fish sauce

June 21, 2012 by

High inventory volume remains the biggest threat to enterprises. Not only expensive products such as cars, motorbikes, but essential goods such as fish sauce have also been selling slowly.

Essential goods also left unsold

Some months ago, when big industrial manufacturers complained that they could sell products due to the weak demand, household goods manufacturers still kept unruffled, because they believed that consumers would only cut down expenses on luxurious products, while they would still have to buy food and other essential goods.

However, Cao Sy Kiem, Chair of the Small and Medium Enterprises’ Association, has affirmed that the unsalability has become serious, because people even do not have money to buy essential goods.

The Nha Trang Fish Sauce Association has said that its member workshops have to scale down the production. Though fish sauce is needed for people in their daily meals, the sales of fish sauce have still been slowing down. Some fish sauce companies have to keep the production at a moderate level since the beginning of the year.

“This shows that the market demand has fallen too sharply. The thing that businesses most expect from the Government now is the measures to stimulate the demand,” Kiem said.

The PMI Index (Purchasing Managers Index) in May 2012 released by HSBC showed that the business conditions of the production sector in Vietnam were worsening. The bank’s report showed that the PMI in the sector decreased from 50 points in March to 49.5 points in April and further to 48.3 points in May 2012.

The declines in production have been reported in most of industries, from textile and garment, footwear to plastics, from automobile, steel to electronics. Though it is now the highest garment production season of the year, most of garment companies still have been moving heaven and earth to seek orders.

According to the Vietnam Textile and Apparel Association Vinatas, big garment companies have reported the 10 percent decreases in the number of orders in comparison with the same period of the last year. Meanwhile, small companies are believed to lack 10 percent of orders.

Other industries including cement, steel, cars, motorbikes and electric equipments have to scale down the production since the beginning of the year already. The enterprises in the fields are running at 50-60 percent of the designed capacity.

Especially, even petroleum products have also been selling very slowly with the inventory volume of 106,000 tons, though the Dung Quat Oil Refinery has halted operation for regular maintenance.

Banks refuse inventories as mortgaged assets

The Ministry of Finance has announced the bail package worth 29 trillion dong. However, experts have estimated that the actual sum of money reserved for businesses would be some 9.5 trillion dong only, which is really a modest sum of money in the current difficult circumstances. Economists have pointed out that the bail package would help increase the total demand by no more than 0.8 percent.

Enterprises now expect the public investment package worth 120 trillion dong, and the 38 trillion dong worth of government bonds, which are believed to create big demands.

However, worries have been raised that if such a big sum of money is put into circulation within just a short time, this may lead to the return of high inflation.

Since manufacturers cannot sell products, they do not have capital for re-investment and production.

Some commercial banks have announced that they would consider accepting inventories as the mortgaged assets to provide loans to businesses, if the inventories can meet the banks’ requirements.

However, the method proves to be unfeasible. Businesses keep complaining that banks refuse to provide loans because they fear risks.

Tran Thuy

  • December 2021 Auto Sales: Demand for PV, CV improves; 2W, tractor in red
  • Toyota Sees Sales in Thailand Plummet by Almost 50 Percent
  • Demand for Tet goods starts to rise gradually
  • Mahindra & Mahindra tractor sales slip 19% to 18,269 units in Dec
  • Off-the-Boat Dungeness Crab Sales Begin At San Francisco Fisherman’s Wharf
  • Integrating poultry, fish and rice to triple income
  • Demand for Tết goods starts to rise gradually
  • Amazon Prime Day Sale 2021: Best Deals and Offers for Kitchen Appliances
  • Shoppers ignore warnings to flock to Boxing Day sales as millions more enter Tier 4
  • US retail sales rise moderately amid shortages, high inflation - Times of India
  • Bidenflation Stole Christmas: Retail Sales Much Lower Than Expected in November
  • 4 Stocks to Buy on Sale
  • Ford Mustang Mach-E Surprises Europe With Strong Sales
  • Tarakihi or snapper, fried or grilled: Where to find Auckland's best fish and chips
  • The best cheap GoPro deals and sales for December 2021
  • Teen who felt like 'school fat girl' drops 7st in one year thanks to this simple trick
  • Omicron scare, PMI data & auto sales among factors that may steer market this week
  • BBC MasterChef 'cancelled' by vegetarians for serving up too many meat and fish dishes
  • Black Friday microwave deals 2021: early sales to grab right now
  • US goods trade gap hits record; pending home sales slip
Goods sales drop dramatically, from autos to fish sauce have 801 words, post on at June 21, 2012. This is cached page on Talk Vietnam. If you want remove this page, please contact us.

Filed Under: FinanceINVESTMENTMotoRMotorbikesSpecial reports fish sauce 250ml, fish sauce rice, which pomfret fish is good for health, weak sauce good, drop and go auto top up, why is marinara sauce good, mayo and ketchup sauce for fish, terraria why does my fishing power drop, terraria why does fishing power drop, pepper sauce and fish, pepper sauce bbc good food, pepper sauce for fish, sauce a fish and chips, fish v oyster sauce, fish fingers best sauce, dinsmores auto fishing shot applicator, lilikoi butter sauce for fish, fishing i drop, auto update drop down list in excel, baked gefilte fish with tomato sauce

Primary Sidebar

RSS Recent Stories

  • Ho Chi Minh City’s tourism shows positive signs with return of Chinese visitors
  • N.A. Vice Chairman visits RoK, meets host leaders
  • Vietnam calls for stronger ASEAN – E.U. relations
  • Vietnamese representative offices abroad urged to boost external information work
  • Military officers reinforced to vehicle registration centers
  • Second-class Labor Order conferred upon N.A. board for deputy affairs
  • One more Vietnamese officer taking on peacekeeping duties
  • Multimedia installation exhibition celebrates Vietnam-Australia diplomatic ties
  • US human rights report gives one-sided evaluations of Vietnam: MOFA
  • Hanoi patriots recount memories of captivity

Sponsored Links

  • UK, Denmark, and Australia Report Highest Daily Covid-19 Cases
  • Paolo Sorrentino’s Italian drama The Hand Of The God premieres on Netflix
  • The best movie scenes of 2021
  • Windows 11’s Default Command Line Catches up to Mac and Linux
  • What Is the Log4j Flaw, and How Does it Affect You?
  • Commander Keen 4: The First and Only Video Game I Loved
Copyright © 2023 Talk Vietnam. Power by Wordpress.
Home - About Us - Contact Us - Disclaimers - DMCA - Privacy Policy - Submit your story