New normal adaptation By Nguyen Dinh Bich Overall, compared with the year-earlier period, although export sales reached US$48.7 billion, a three-fold increase (24.7% versus 8.7%), import value soared to US$47.1 billion, a jump of 9.5 times (26.4% versus 2.8%) – PHOTO: ANH QUAN The new year has entered its second quarter and clear signs have been seen of a rapidly changing world market. In such a context, the Vietnamese economy, which has a high degree of openness despite its low economic development, has been strongly affected by import-export in an unprecedented way. How to cope with these fluctuations should therefore be taken into account. Globally speaking, statistics obtained from the World Bank show that compared with the end of last year, the world power price climbed unexpectedly by 25.9% in February, Likewise, prices of non-fuel commodities rose by 7.1%, of which the price of farm produce rose by 6.4% (prices of cereals soared by 15%, prices of metals by 6.9% and prices of fertilizers by 26.9%, a record high). These hikes were very remarkable against 2020. Given such conditions, Vietnam with her special basket of imports and exports will benefit significantly from exports. What's more, she will suffer significantly from… Read full this story
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