Traded yankees prospects

The Hanoitimes - Phones and parts posted the largest export turnover among export items during January with US$6.1 billion, up US$3.4 billion against the same period of last year. Vietnam recorded a trade surplus of US$2.09 billion in the first month of 2021, which remained a stark contrast from a deficit of US$300 million in the same period last year, according to the General Department of Vietnam Customs (GDVC). Production for exports at Garment 10 Company. Photo: Pham Hung. In January, the country’s trade turnover stood at US$55 billion, representing an increase of 48.2% year-on-year, in which exports rose by 55.1% to US$28.55 billion and imports by 41.3% to US$7.74 billion. According to the GDVC, foreign-invested sector posted a trade surplus of US$3.98 billion during the period, coming on the back of a 70% surge in exports year-on-year to US$21.57 billion, or over 75% of the country’s total export turnover. Phones and parts posted the largest export … [Read more...] about Vietnam trade surplus surges to US$2.09 billion in January

Big target The fishery sector plays an important role in the national economy. Despite the impact of the Covid-19 pandemic, seafood exports reached US$8.4 billion in 2020, a drop of 1.8 percent compared with 2019, according to the Ministry of Agriculture and Rural Development. Truong Dinh Hoe, secretary-general of the Vietnam Association of Seafood Exporters and Producers (VASEP), said Vietnam’s seafood exports plummeted in the first half of 2020, especially in March and May with a drop of 48 percent and 16 percent compared to the same month in 2019, respectively. By adapting to the new normal and devising response solutions, seafood exports recovered in the second half of the year. Shrimp exports maintained steady growth. With experience in controlling the pandemic and utilization of free trade agreements to which Vietnam is a signatory, seafood exports are expected to increase by 10 percent in 2021 to US$9.4 billion. Of which, exports of shrimp, tra fish, and other … [Read more...] about Vietnam’s seafood exports perform swimmingly due to free trade deals

The virtual dialogue was co-chaired by Ray Smith, Chief Executive of the New Zealand Ministry for Primary Industries, and Dr Le Quoc Doanh, Vice Minister of Vietnam's Ministry of Agriculture and Rural Development (MARD). A New Zealand embassy press release said the two leaders had confirmed their shared commitment to finalizing new fruit access for each other this year, so consumers can enjoy New Zealand strawberries and squash in Vietnam and Vietnam’s limes and pomelos in New Zealand. The two sides signed an Agriculture Cooperation Arrangement (ACA) after the dialogue. The ACA will enable both sides to advance their key agricultural interests in enhancing bilateral trade, reducing agricultural greenhouse gas emissions, promoting food safety, utilizing agriculture research and technology, and fostering rural development, the release said. The New Zealand Ministry for Primary Industries is already supporting agriculture cooperation with MARD through activities in plant health, … [Read more...] about Vietnam, New Zealand to expand fruit trade this year

Shrimps processed for export (Photo: VNA) HCM City (VNA) – Ho Chi Minh City ’s Department of Industry and Trade has set the target to export 48.19 billion USD worth of products in 2021, a year-on-year surge of 10 percent. Under its development plan for 2021 recently submitted to the municipal People’s Committee, the sector said import revenue is estimated at 56.47 billion USD for the whole year, up 11 percent against the previous year. Besides, it eyed to reel in more than 835.68 trillion VND (36.29 billion USD) from retail sales and services revenues in the year, up 10 percent year-on-year. The department said it will carry out necessary measures in a comprehensive fashion to branch out industry and trade, contributing to promoting economic recovery of the southern hub. Earlier, HCM City set a goal of boosting the export of its key products this year and beyond via trade promotion activities and assistance to enterprises. Head of the statistics office Huynh Van … [Read more...] about HCM City eyes 10 percent growth in export in 2021

The MoIT’s Import and Export Department cited statistics released by the International Trade Center (ITC) which indicate that Poland's coffee imports throughout the 2015 to 2019 period grew by an average of 6.5% annually, from 141,144 tonnes in 2015 to a total of 181,086 tonnes in 2019. During the nine-month period, the Eastern European country’s coffee imports reached 136,300 tonnes with a value of US$448.71 million, showing an increase of 2.7% in volume and 6.7% in value from the same period in 2019. Most notably, the average import price of coffee within the Polish market witnessed a surge of 3.9% to US$3,291 per tonne compared to last year’s corresponding period. Throughout the reviewed period, Poland increased its coffee imports from the majority of its regular markets, although imports from both Germany and Uganda declined. The figures indicate that the Eastern European nation increased coffee imports from Vietnam by 30.6% in volume and 27.1% in value, with the Vietnamese … [Read more...] about Poland increases imports of Vietnamese coffee