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The country’s trade turnover during January-February topped some US$95.81 billion, a year-on-year surge of 25.4%. Of the total, exports amounted to US$48.55 billion, a yearly hike of 23.2%, while imports were estimated at US$47.26 billion, or 25.9% higher than the same time last year. Foreign-invested companies accounted for 76.4%, or US$37.07 billion, of Vietnam’s total export turnover. Meanwhile, the domestic sector shipped abroad US$11.48 billion worth of products. There were nine commodities joining the billion-USD export club, including telephones and parts (US$9.3 billion, up 22.8% year-on-year); electronics, computers and parts (US$6.9 billion, up 27.3%); equipment, machines and parts (US$5.5 billion, up 72.6%); footwear (US$3.2 billion, up 15.4%); and wood and wooden products (US$2.4 billion, up 51%). They made up 73% of the country’s export turnover. Vietnam also saw strong surge in shipments of several agricultural products, such as fruits and vegetables (US$610 million, rising 14.6%), rubber (US$516 million, increasing 109.7%), cashew (US$442 million, up 21.5%), and cassava (US$256 million, hiking 78.2%). The US was Vietnam’s biggest importer as it splashed out US$14.2 billion on Vietnamese products, or 38.2% higher than the amount it spent the same time last year. China came second with US$8.5 billion, followed by the EU with 6.3 billion, ASEAN US$4.2 billion, the Republic of Korea US$3.4 billion, and Japan US$3.2 billion. Meanwhile, the country spent big (US$47.26 billion) on imports, with foreign-invested sector purchasing US$31.64 billion worth of products from abroad for production, up 31.4%, while that of the domestic sector surged 16% to US$15.62 billion. In the two-month period, China was the largest exporter of Vietnam, with revenue estimated at US$17.3 billion, up 85.7% year-on-year, followed by the Republic of Korea with US$8.4 billion, ASEAN US$5.6 billion, Japan US$3.1 billion, EU US$2.3 billion, and the US US$2.1 billion. In a …

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This is the highest February CPI growth recorded in the last eight years. However, the index in the first two months decreased 0.14% year-on-year. Compared to the previous month, an upturn was seen in the prices of ten out of 11 main groups of goods and services, with housing and construction materials taking the lead (4%). It was followed by food and catering services (1.61%); transport (1.55%); drinking and tobacco (0.9%); garment and textile, headwear and footwear (0.25%). The price of education services remained stable compared to the previous month. The GSO’s Price Statistics Department explained that the CPI in February saw a strong rise due to the higher demand for food and foodstuffs for the Lunar New Year (Tet) festival. The prices of medicine and medical supplies in January-February increased by 0.88% compared to the same period last year, the price of gas in the month climbed 3.05% year-on-year. There were a number of reasons for the decrease in CPI in the last two months. The petrol and oil prices decreased by 15.78% year-on-year while the electricity price in January fell by 16.88% over the same period last year, making the average electricity price in the first two months of 2021 down by 9.95%. Due to the impact of the COVID-19 pandemic, the demand for travel and tourism decreased compared to the same period last year. On average, in the last two months, the air ticket price dropped by 35.65%, train fares down 12.39%; and tour prices decreased by 4.99%. At the same time, domestic gold price in February was up 0.25% over the previous month, while that of US dollar was around 23,145 VND per USD, down 0.17% month-on-month and 0.76% year-on-year. GSO said the core inflation in February, which is CPI excluding grain food, fresh foodstuff, energy and the State-managed medical and educational services, increased by 0.48% from the previous month, and 0.79% compared to one year ago. The two-month core inflation grew by 0.64% year-on-year. …

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A man from the southwestern region of Vietnam started his business with a female buffalo that was then extended to hundreds of buffaloes, earning him annual revenue of over a billion VND. Though busy during the last days of the lunar year, Mr. Nguyen Hong Ngu, a resident of Long My district in Hau Giang province, spent time to tell us his “destiny”: becoming wealthy from buffaloes. Resting on a meadow, he shared his childhood memory about buffaloes. When he grew up, he chose the buffalo to start his business. “Twenty-seven years ago, Luong Nghia land was so heavily contaminated with alum that there was only one crop per annum. Only about 600 kilograms of grain per labor per crop were harvested. What frustrated me was thzt no buffalo was available for the crops. Back then, I had just got married. I decided to take the money and gold received from the wedding to purchase a female buffalo for VND5 million. I just thought of using the buffalo for our own crop, not yet getting rich from it,” said Ngu. The buffalo was not only used for his own farm. It was rented by his neighbors too. At the end of the harvest, Ngu bought nearly one tael of gold. A couple months later, the buffalo got pregnant. Ngu started to develop her breed. “So far, I have had a herd of hundreds of buffaloes. The first buffalo was dead after delivering 16 calves." His buffaloes are raised in different southern provinces, namely Hau Giang, An Giang, Dong Thap, etc. for trade convenience. Every day, the buffaloes are out in the grass field and soak in the water for about an hour. Then, they return to the stables for the lawn. “Cutting lawns is a hard job but does not cost much money as food does for pigs, chicken, and ducks,” said Ngu. Ngu uses 20 acres of land for grass for the buffaloes. When there is no grass on the meadow, he has to buy rice roots from newly harvested fields. During these times, the buffaloes are well fed and chubby. VND3 billion house from buffalo sale Ngu …

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