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Seafood exports likely to fall short of 10-billion USD target (Photo: VNA) Hanoi (VNA) – Vietnamese seafood companies need to work harder to realise the export target of 10 billion USD set by the Ministry of Agriculture and Rural Development (MARD) when oversea shipments in during January-July were estimated at only 4.66 billion USD. The yearly growth rate of seafood export in the period this year, at 6.4 percent, was much lower than the same time last year, with 19.3 percent. According to Truong Dinh Hoe, General Secretary of the Vietnam Association of Seafood Exporters and Producers (VASEP), instability in the world market and oversupply of shrimp worldwide are the main causes of the dwindling growth. “Exports of seafood products are likely to fetch 9 billion USD, but 10 billion USD is a far cry. However, we are trying our best,” Hoe said. He noted that revenue from seafood exports in July was less than 700 million USD, adding that however, the season for … [Read more...] about Seafood exports likely to fall short of 10-billion USD target

Hanoi’s export turnover exceeded 15 billion USD in the first 11 months of 2019, a year-on-year surge of 18.4 percent (Illustrative photo: VNA)   Hanoi (VNA) – Hanoi’s export turnover exceeded 15 billion USD in the first 11 months of 2019, a year-on-year surge of 18.4 percent. Foreign shipments of computers and peripheral devices contributed 2.28 billion USD to the capital city’s exports, increasing 4.4 percent against the same period last year. Garment-textile raked in nearly 2 billion USD, up 16.8 percent, while around 1.64 billion USD came from machinery, equipment and spare parts, up 2.8 percent. Meanwhile, the export turnover of farm produce and wooden products recorded declines of 22.3 percent and 6.8 percent to 887 million USD and 449 million USD in the period, respectively. In November alone, the city earned 1.57 billion USD from exports, a month-on-month rise of 6 percent and rising 33 percent against the previous year./. VNA … [Read more...] about Hanoi’s export revenue hits 15 billion USD in 11 months

Remittances to Ho Chi Minh City are expected to reach some 5.3 billion USD in 2019. (Photo: tinnhanhchungkhoan.vn) HCM City (VNA) – Remittances to Ho Chi Minh City are expected to reach some 5.3 billion USD in 2019, a year-on-year surge of 9 percent, despite unfavourable global financial and monetary market, according to Deputy Director of the State Bank of Vietnam’s Ho Chi Minh City branch Nguyen Hoang Minh. Minh said that Vietnamese expatriates remitted roughly 4.3 billion USD to the southern hub as of the end of November. The flow of money has played an important role in economic development as well as stability of foreign currency supply in the city, he stressed. Vietnam was expected to remain one of the top ten remittance recipients in 2019, according to the latest edition of the World Bank’s Migration and Development Brief. Around 16.7 billion USD in remittances was projected to flow into Vietnam for the full year, making the Southeast Asian country the … [Read more...] about Remittances to HCM City expected to pick up 9 percent

Hanoi (VNA) - In the first six months of 2019, Vietnam’s import-export turnover exceeded 200 billion USD. However, poor market conditions have significantly affected the prices of many key exports.According to the Ministry of Industry and Trade, exports through the first months of the year increased compared to the same period last year, but were not sustainable. Prices of many agricultural products for export tended to decrease in the first months of 2019 (Source: VietnamPlus) Prices of agricultural and aquatic products tumble Statistics from the Ministry of Industry and Trade show that in the first half of 2019, the country’s export turnover was estimated at 122.4 billion USD, up 7.1 percent over the same period in 2018. In the period, the country's export turnover reached only 46.55 percent of the plan set for the year. Ofthis, exports from the fully domestic-owned area were estimated at 36.67 billion USD, up 10.4 percent year-on-year, while the foreign invested area … [Read more...] about Vietnam aims to complete export turnover goal for 2019

Illustrative image (Photo: VNA) Hanoi (VNA) – Vietnam’s shrimp exports continued to shrink over the last 11 months in the face of fierce competition from other major exporters. But it is expected to make its way back next year with the EU-Vietnam trade deal coming into force. The country exported about 3.1 billion USD worth of shrimp products in the firsth 11 months of this year, a year-on-year decrease of 8.2 percent, according to the Vietnam Association of Seafood Exporters and Producers (VASEP) . The VASEP said the shrimp exports are likely to total just 3.4 billion USD this year, down 4.4 percent from a year earlier and much lower than the yearly goal of 4 – 4.2 billion USD. In 2019, Vietnamese shrimp has been under great pressure due to stiff competition from India and Indonesia which enjoyed bumper shrimp harvest. Vietnam’s shrimp exports to four main markets – the US, China, the EU and Japan – saw opposite trends with those to the first … [Read more...] about Shrimp exports slide further in 2019, better outlook expected next year