Trade

Hanoi (VNA) - The agro-forestry-fishery sector recorded a trade surplus of close to 3.3 billion USD in the first five months of 2020, a decline of a mere 2.3 percent year-on-year. According to the Ministry of Agriculture and Rural Development (MARD), shipments overseas during the period brought in nearly 15.5 billion USD, down 4.1 percent year-on-year. Exports of key farm produce, husbandry products, fisheries, and forestry products earned approximately 7.4 billion USD, 210 million USD, 2.6 billion USD, and 4.2 billion USD, respectively. All were down year-on-year, by between 1.5 and 19 percent. Most products saw lower export revenue compared to last year, with earnings for tra fish, rubber, fruit, shrimp, peppercorn, and tea falling sharply. By contrast, shipments of coffee, rice, vegetables, cinnamon, and bamboo and rattan posted higher value. China remained Vietnam’s largest export market in the January-May period, with 3.7 billion USD. Despite showing a decline of 15.5 … [Read more...] about Five-month agro-forestry-fishery trade surplus nearly 3.3bn USD

Hanoi (VNA) - Vietnam reported a trade surplus of 1.9 billion USD in the first five months of this year amid the ongoing complexity for global markets caused by the COVID-19 pandemic. According to the General Statistics Office (GSO), export turnover reached 99.36 billion USD, down 1.7 percent year-on-year. The domestic sector’s export value was 33.3 billion USD, up 10.4 percent compared to the same period last year, while the FDI sector’s exports, including crude oil, were valued at 66.06 billion USD, down 6.9 percent. Commodities seeing strong growth in export value during the period included machinery, equipment, tools, and spare parts with 25 percent; computers, electronic products, and components with 22.1 percent; rice with 17.2 percent; coffee with 2.9 percent; and cashew nuts with 2.2 percent. Those with declining turnover were telephones and components (8.8 percent), textiles (14.5 percent), footwear (4.6 percent), fruit and vegetables (10.3 percent), rubber … [Read more...] about Vietnam posts 1.9bln USD trade surplus in first five months

The GSO said the total import and export turnover during the reviewed period dropped by 2.8% to US$196.84 billion in comparison to the same period from last year. Elsewhere the five-month period saw the export turnover of goods in the domestic sector enjoy an increase of 10.4% to US$33.3 billion, while the foreign invested sector grossed approximately US$66.06 billion, representing a decline of 6.9% on-year and accounting for 66.5% of the total export turnover figure. … [Read more...] about Nation racks up US$1.9 billion trade surplus over five-month period

“Many experts forecast that the demand for footwear products in the US would increase post COVID-19. It was the reason that Vietnamese footwear producers should focus on trade promotion to the market,” said Vũ Bá Phú, Vietrade’s director. … [Read more...] about Việt Nam, US promote footwear trade post-pandemic

Both PMs underlined the importance of maintaining peace, stability, freedom, and security of navigation and aviation in the East Sea. They agreed on joint efforts to maintain ASEAN’s solidarity and common views and boost negotiations for a Code of Conduct in the East Sea in line with international law and the 1982 UN Convention on the Law of the Sea. — VNS … [Read more...] about Việt Nam, Singapore agree to boost cooperation and trade