Export turnover

According to Director General of the General Statistics Office (GSO) Nguyen Bich Lam, phones and components achieved the highest value among the country’s top five export goods with turnovers of more than $10 billion each, which include electronics, computers and components ($25.4 billion), textiles and garments ($24.8 billion), footwear ($13.3 billion), and machinery and spare parts ($12.9 billion). “The top five goods accounted for 59.2 per cent of the country’s total export value, which reached $194.3 billion in the January-September period, up 8.2 per cent year-on-year,” said Lam. He said the US was Vietnam’s largest export market during the period with a value of $44.9 billion, up 28.2 per cent compared with the same period last year. It was followed by the EU with $31.1 billion, China with $27.8 billion, ASEAN with $19.4 billion, Japan with $15.1 billion and the Republic of Korea with $14.5 billion. In the first nine months of this year, the … [Read more...] about Phones and components lead in January-September export turnover

Workers manufacture shoes at Phuc Mau Co., Ltd, in the northern province of Thai Binh. Leather and footwear exports are expected to exceed US$22 billion this year A 2019 breakdown of Vietnam’s worldwide exports shows US$18.3 billion from footwear and US$3.75 billion from handbags, wallets, suitcases, hats and umbrellas expected for the whole year. Officials note that the increase in leather exports is largely due to foreign investment from China to Vietnam, as a result of the U.S.-China trade war, along with benefits for Vietnamese exports coming from the free trade agreements it has signed. However, the sector has faced challenges to meet the target. The lack of input materials for the sector has forced Vietnam to make significant expenditures on material imports, hindering the development of local supporting industries and the fulfillment of commitments on product traceability. Moreover, labor productivity in the sector is low. A Vietnamese worker can make three to four … [Read more...] about Vietnam expected to overtake China in leather, footwear exports to US market

Processing Tra fish for export (Source: VNA) Hanoi (VNA) – Vietnam exported 30.02 billion USD worth of agro-forestry-fishery products in the first nine months of 2019, a year-on-year rise of 2.7 percent, according to the Ministry of Agriculture and Rural Development. Also in the reviewed period, the country spent 23.16 billion USD on agro-forestry-fishery imports, down 1.2 percent from the same time last year. The nine-month export growth was mainly driven by forestry products that reached 7.93 billion USD, up 18 percent, and livestock 530 million USD, up 8.6 percent. Products with export turnover of more than 2 billion USD include wood and timber products, coffee, rice, cashew nut, vegetables and fruit, and shrimp./. … [Read more...] about Agro-forestry-fishery exports up 2.7 percent in nine months

Export turnover of agricultural products suffered a drop of 7.2%, aquatic products down 2%; and forestry product up 18%.  In the first nine months, Viet Nam’s five largest importers included China (accounting for 21.5% of the market shares); the U.S. (21.2%); the EU (11.9%); ASEAN (9.6%); and Japan 8.5%.  On the other hand, total import turnover hit US$ 23.16 billion, representing a year-on-year decline of 0.7%.  The sector ran a trade surplus of nearly US$ 7 billion in the first nine months.  In September, Viet Nam shipped 586,000 tons of rice and collected US$ 251 million of export turnover. In the first nine months, rice export turnover was estimated at US$ 2.24 billion, up 5.9% in quantity but down 9.8% in value.  In the ninth month, overseas shipment of vegetables and fruits was estimated at US$ 295 million, bringing the total number to US$ 2.84 billion, down 4.3% against the same period last year./. By Khanh Phuong … [Read more...] about Agricultural export turnover hits US$ 30 bln. In Jan-Sept period

FDI sector contributes greatly to the export turnover in nine months. (Photo: baodautu.vn) Hanoi (VNA) – Vietnam exported 194.3 billion USD worth of products in the first nine months of the year, a year-on-year surge of 8.2 percent, the Ministry of Industry and Trade said on September 30. According to the ministry, 30.7 percent of the export turnover was contributed by the domestic economic sector, and 69.3 percent by the foreign-invested sector. The US continued to be the largest importer of Vietnam as it splashed out 44.9 billion USD on purchasing Vietnamese goods, followed by the EU (31.1 billion USD), ASEAN (19.4 billion USD), Japan (15.1 billion USD), and the Republic of Korea (14.5 billion USD). During the period, 26 products achieved an export turnover of more than 1 billion USD, with five of them posting more than 10 billion USD in export value. To be more specific, shipments of telephones and spare parts fetched 38.6 billion USD; electronic products, computers and … [Read more...] about Nine-month export revenue picks up 8.2 percent