Vietnam china import export

The Vietnamese side at the online talks on June 29 (Photo: VNA) Hanoi (VNA) – Permanent Vice Chairman of the National Assembly (NA) Tran Thanh Man and Vice Chairman of the Standing Committee of the National People’s Congress (NPC) of China Wang Chen held online talks on June 29. They shared the view that relations between the two Parties and countries have continued thriving, with all-level exchanges and meetings held frequently in flexible forms. In particular, the Party general secretaries of Vietnam and China have had four phone talks in two straight years, helping enhance political trust and identify strategic orientations for the healthy and stable development of the two Parties and countries’ relations. The vice chairmen affirmed that the practical and effective cooperation between the two legislatures form an important part of ties between the two Parties and countries. Given this, they agreed to order their respective sides’ relevant agencies to fruitfully … [Read more...] about Vietnam, China agree on measures to further promote parliamentary ties

Tan Phu Plastic Company produces safe products to serve the local market. The "Zero COVID" policy of China means many Vietnamese producers lack input materials. (Photo courtesy of the firm) Hanoi (VNS/VNA) - While many exporters and producers had orders for 2022, they are worried about a possible shortage of production materials because of supply disruptions from China . The worst sufferers were the electronics, wood, textiles, and footwear industries. According to the Ministry of Industry and Trade (MoIT), China was an important market for the export and import activities of Vietnam as it provides the majority of input materials for Vietnam's production, especially electronic components, machinery parts, fabrics and chemicals. MoIT said from 50 to 55 percent of raw materials and accessories for the textile, garment, and footwear industries originated from China. The country was currently implementing the "Zero COVID" strategy, which forced many factories there … [Read more...] about Local enterprises lack materials due to China’s ‘Zero COVID’ policy

Tan Phu Plastic Company produces safe products to serve the local market. The "Zero Covid" policy of China means many Vietnamese producers lack input materials. (Photo courtesy of the firm) The worst sufferers were the electronics, wood, textiles, and footwear industries. According to the Ministry of Industry and Trade (MoIT), China was an important market for the export and import activities of Vietnam as it provides the majority of input materials for Vietnam's production, especially electronic components, machinery parts, fabrics and chemicals. MoIT said from 50 to 55 percent of raw materials and accessories for the textile, garment, and footwear industries originated from China. The country was currently implementing the "Zero Covid" strategy, which forced many factories there temporarily stop production to fight the pandemic. The import-export activities in the neighboring country were affected a lot by the shortage of containers at ports. Phan Thi Thanh Xuan, Vice … [Read more...] about Local enterprises lack materials due to China’s ‘Zero Covid’ policy

Illustration. (Photo: VNA) Hanoi (VNA) – Vietnam enjoyed a trade surplus of 710 million USD in the first six months of 2022, the General Statistics Office (GSO) reported on June 29. According to the office, in the first half of this year, total import-export revenue is estimated to reach 371.17 billion USD, up 16.4% year on year, with imports of 185.94 billion USD, a rise of 17.3% over the same period last year. In the period, the domestic economic sector suffered trade deficit of 15.97 billion USD, while the foreign-invested sector saw trade surplus of 16.68 billion USD. In June, import-export turnover is estimated at 32.65 billion USD, up 5.6% over the previous month. In the second quarter of 2022, export revenue reached 96.8 billion USD, a rise of 21% year on year and 8.7% over the previous quarter. In the January-June period, 28 products recorded export revenue of over 1 billion USD, and five earning revenue exceeding 10 billion USD. The GSO reported that the … [Read more...] about Vietnam enjoys trade surplus of 710 million USD in six months

Illustrative image (Photo: AP) Vientiane (VNA) – The Lao government is focusing on implementing an array of hydropower projects nationwide to increase its electricity exports to regional countries, including Vietnam and Cambodia. Laos has signed contracts with Vietnam Electricity (EVN) covering 25 projects with a combined capacity of 2,180 MW, of which Sekaman 1, Sekamansanse and Sekaman 3 already have a total capacity of 572 MW. With an accumulative capacity of 1,608 MW, the remainders are scheduled to be put into operation and supply electricity for Vietnam from 2022-2025. The two countries have also reached memoranda of understanding on other projects, helping to push total electricity output expected to be exported from Laos to Vietnam to 8,148 MW by 2030. Apart from Vietnam , Laos has also exported electricity to Cambodia , with a volume of 445 MW, which is scheduled to reach 6,000 MW by 2030. Thailand, China and Singapore have also imported power … [Read more...] about Laos boosts electricity exports to Vietnam, Cambodia

Vietnam has continued to make gains in agro-forestry-fishery production, and seen increases in agricultural exports thanks to its successful COVID-19 containment. As of mid-May, about 2.67 million ha out of 4.28 million ha of rice from the winter-spring crop had been harvested, up 3.6% over the same period last year, with total output of about 17.7 million tonnes. In the first five months, Vietnam shipped 2.86 million tonnes of rice overseas, a year-on-year rise of 10.3%, raking in 1.39 billion USD. According to Nguyen Nhu Cuong, head of the Department of Crop Production under the Ministry of Agriculture and Rural Development, Vietnam has about 7.3 million ha of rice and 1 million ha of vegetables. Basically, the country faces no risk of food security. In husbandry, cattle farms have grown by 1.6% compared with May 2021, while pig populations rose 5.7% and poultry by 1.9%. Only buffalo numbers decreased by 1.5%. Rice for export (Photo: VNA) … [Read more...] about Agricultural sector ensures food security, exports

China is the world’s largest rubber importer, Le Toan At its AGM on June 21, Vietnam Rubber Group (VRG) approved its 2022 business plan. The group aims to generate $1.29 billion in revenue but only about $230 million in after-tax profits, almost equal to the level of 2021. VRG has made efforts to reduce its dependence on the Chinese market for years. However, as of June, China still accounts for 30 per cent of its rubber and latex exports. With over 400,000 hectares of rubber plantations, VRG mainly earns its profits from selling rubber, latex, and timber. It generates about $108 million from rubber and latex. However, the group remains cautious in setting profit targets for 2022. China, the world’s largest rubber importer, has actively sourced natural rubber since the beginning of the year. According to Chinese customs authorities, the country’s import turnover of this product group in the first quarter reached $3.58 billion, an increase of 13.6 per cent over the same period … [Read more...] about Rubber groups aim to cut China reliance

Vietnam’s agricultural, forestry, and fishery exports in the first half of this year reached nearly US$28 billion, a remarkable rise from a year earlier, with the U.S. being the biggest importer, according to the Ministry of Agriculture and Rural Development. In a recent report, the ministry said the total export value of the three categories amounted to about $27.88 billion in the year to June, registering a 13.9 percent increase from the same period last year, with the U.S. topping the list of major purchasers, followed by China and Japan. In bringing into play this encouraging export recovery from the COVID-19 pandemic, the agency has set a goal to earn a total export turnover of $55 billion for the whole 2022, translating to a $5 billion excess over the year’s target set by the government. The export value of this year’s first half included some $11.37 billion from agricultural commodities (up 8.8 percent year on year), $9.1 billion from forest products (up three percent), … [Read more...] about Vietnam’s 6-month agro-forestry-fishery exports up 13.9% year on year, US largest importer

Seafood exporters in Vietnam may find the second half of 2022 a challenging period compared to the first due to slowing global economic growth, despite a successful first half of the year, according to a conference held by the Vietnam Association of Seafood Exporters and Producers. Exports of seafood in the first five months of the year rose by around 42%, but they are expected to slow down for the second half of 2022. (Photo: VNA) Since the start of 2022, seafood businesses have been focusing on recovering their production, increasing exports and networking with partners after the COVID-stricken year of 2021. Exports of seafood in the first five months of the year reached 4.7 billion USD, a 42% increase year-on-year. During the conference held in HCM City on June 22, Truong Dinh Hoe, general secretary of the association, said that export prices grew by up to 15%, and markets grew around the world. The association has been focusing on helping … [Read more...] about Seafood exporters face challenging second half of 2022: conference

At the meeting According to general statistics from the General Department of Vietnam Customs, in the first five months of 2022, approximately 206,110 tons of cashew kernels of all kinds were exported earning over US$1.19 billion in export turnover, down 7.81 percent in volume and 6.81 percent in value. However, the average export price was about $5,792 a ton, up 1.45 percent from the same period last year. Regarding imports in the first five months, enterprises imported about 968,000 tons of raw cashew nuts from abroad with a value of nearly $1.4 billion, down 35.24 percent in volume and down 37.84 percent in value over the same period in 2021. However, prices of imports from Africa increased by 15 percent-20 percent since the beginning of the season. More importantly, importers are tending to be slow to purchase raw materials due to many reasons but the most common is the price difference between imported raw cashew nuts and export kernel prices. The price of raw cashew … [Read more...] about Cashew exports down due to rising oil prices, epidemics, Russia Ukraine conflict