Vietnam exports

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

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

At the signing ceremong between the General Department of Vietnam Customs and the UK Border Force (Photo: dangcongsan.vn) Hanoi (VNA) – The General Department of Vietnam Customs and the UK Border Force (UKBF) will further their collaboration under a Memorandum of Understanding inked between the two sides in Hanoi on October 2. Accordingly, they will work together in education and training, equipment provision, as well as exchange of expertise, experts and science and technology in the field of customs. The event is expected to help tighten the cooperative ties between Vietnam and the UK in various sectors. The Vietnamese customs and the UKBF are completing an agreement between the two governments on cooperation and administrative support in customs so as to carry out negotiations in the time ahead. Partners of the Vietnamese customs in the UK, including the UKBF and the HM Revenue and Customs (HMRC), will join hands to negotiate this important agreement. Vietnam … [Read more...] about Vietnam Customs, UK border force enhance cooperation

According to statistics of the General Department of Customs, Vietnam export turnover of timber and wood products in 2018 increased sharply, setting a new record of more than 8.909 billion USD, up 15.7 percent compared to 2017 (Photo:VNA) … [Read more...] about Vietnam strengthens goods traceability